Paul3446

Hi all.

I have a £300 credit note with Bravingtons Jewellers, we went to take a look for something to buy with it the other day and found that they have gone into receivership.

Where do we stand with regards to getting our money back?

Any help greatly appreciated.

Paul.

KiwiGTI

You are just another creditor fairly low down on the list.

gpssti4

iTrader: (6)

Sad but true.

I had one from On Digital when it folded - £10! Worth nothing. Yours maybe as it's a bit more. Good luck with it.

Paul3446

Thanks for that, but where do I start trying to get the money back?

Scooby Soon!

You need to contact the administrators (should be on the front door) but sadly your chances of getting anything is slim.

Most of there supliers will probably get back 10p in the £ if they are lucky!

///\oo/\\\

Paul

You will rank for payment of any dividend as what is called an "ordinary" creditor.

Write to the Administrator with details of your claim and he/she will send you a proof of debt form.

Chances are slim to zero of any recovery, although changes to the legislation which came into effect on 15 September 2003 had the effect of creating a ringfenced fund (which would previously have been available only to the bank under a floating charge/debenure) being made available for creditors such as yourself.

There will not always be such a fund depending on the financial status of the company and the relevant dates of the charges, but you won't know unless you submit a claim.

HTH

john_s

iTrader: (1)

I got a cheque from On Digital... about 16p or something like that; I'm pretty sure it cost them more to post me the cheque than the value on the cheque.

John.

Paul3446

Thanks everyone.