Owed money from a bankrupt or a company in liquidation

Introduction

This guide is aimed at businesses who are owed money by an individual in bankruptcy or company in compulsory liquidation.

It gives information about who deals with bankruptcy and compulsory liquidation cases, and how to ensure you are registered as a creditor. It gives advice on making a claim and how the available money (if there is any) is divided between creditors according to the security and value of debts.

The guide explains creditors' meetings, appointing a creditors' or liquidation committee, voting rules at meetings, and the role of The Insolvency Service. The Insolvency Service is the government agency responsible for managing the insolvency process through the official receiver (OR). It runs the OR network throughout England and Wales and administers and investigates the affairs of partnerships and companies wound up by the courts, as well as bankrupt individuals.

You will find information on payment for the trustee/liquidator handling the case and what happens when the OR or an insolvency practitioner has completed their responsibilities.

Subjects covered in this guide

• Introduction
• Who deals with bankruptcy and company liquidation claims?
• Ensuring you are registered as a creditor
• Making a claim and the order of repayment
• Creditors' meetings and creditors'/liquidation committees
• Conduct and voting at creditors' meetings
• Completion of bankruptcy and company liquidation cases

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