The success of an insolvency process is often measured on the ability to realise sufficient assets in order to pay something back to creditors and two cases we are administering are meeting that goal.
In the first case, PBC are delighted to announce the payment of a further significant interim dividend of £200,000 to HM Revenue & Customs from an insolvency estate. Combined with a payment of £500,000 in January, HMRC have now received over 35% of their debt. With further assets to realise, it is expected that well over £1million will be returned to creditors.
The second case involves an individual who was declared bankrupt in 2019. Realisations of two buy to let properties and an endowment policy have enabled payments of approximately 20 pence in the pound to be made to unsecured creditors.
Jamie Cochrane said, “It is always pleasing to be able to make payments to creditors as described here. The commercial approach taken by PBC on these cases has increased the dividends we are able to pay”.
If you require any advice or assistance on any insolvency-related issue, then please contact PBC Business Recovery & Insolvency to discuss and advise on your situation on 01604 212150 (Northampton), 01908 488653 (Milton Keynes) or email to email@example.com. Alternatively, visit www.pbcbusinessrecovery.co.uk for further information.