Pull a rabbit out of a hat – yes it can be done!
PBC Business Recovery and Insolvency handled the liquidation of an Ex-Serviceman’s club in December 2019. In compulsory liquidation it is very rare for members to receive any financial return. In this instance we are pleased to report that recently, not only did all class of creditors receive payment in full plus statutory interest – total paid was £346,278, each of the 230 club members at the time of liquidation received £1,000 each from surplus funds held.
Whilst returning funds to members in insolvency proceedings is rare, we consistently return funds to creditors in insolvency proceedings. Should you have an insolvency-related issue then please contact a member of the team at PBC Business Recovery & Insolvency on (01604) 212150 (Northampton office) or (01234) 834886 (Bedford office).