Home | Client stories | Helping a Creditor to Process Liquidation Case
Each year, thousands of companies and individuals are subject to insolvency procedures. In turn, this means thousands of insolvency notices are sent to creditors.
In this particular case, we were appointed as a Liquidator in a Liquidation case following the presentation of a petition to the Court by a creditor who was owed over £3,500,000.
On appointment, we undertook various investigations including an in depth review of the books and records of the company and an analysis of their bank statements. This uncovered personal spending by the director in excess of £500,000.
Through discussions with the director we were able to recover £141,000 from him personally. We subsequently petitioned for the Sequestration of the director and are confident of recovering further funds through this process.
This will result in an increased dividend for the creditors.
The team at Middlebrooks works very closely with businesses owners, courts and creditors to make sure that businesses have every chance to move forward and creditors are presented with the best course of action.
14-18 Hill Street
Edinburgh
EH2 3JZ
0131 297 7899
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16 Cromarty Campus
Rosyth
Dunfermline
KY11 2YB
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Glasgow
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Claire Middlebrook, Scott Bastick and Katie McLachlan are authorised to act as insolvency practitioners in the UK by the Institute of Chartered Accountants of Scotland
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