Updated
Martha
H Thompson and Dermot Power of BDO LLP, Kings Wharf, 20-30 Kings
Road, Reading, Berkshire, RG1 3EX were appointed Joint Liquidators of Farepak
on 4 October 2007.
This
follows the appointment of Martha H Thompson and Shagun
Dubey of BDO LLP, Kings Wharf, 20-30
Kings Road, Reading, Berkshire, RG1 3EX as Joint Administrators over the assets
and business of Farepak on 13 October 2006.
This website will generally be updated annually following the Joint Liquidators’ report to creditors, including Customers and Agents.
The Insolvency Act 1986 states that the Joint Liquidators should report to all known creditors within three months of each anniversary of their appointment on 4 October 2007. Because of the costs involved in reporting to all the creditors, the Joint Liquidators applied to Court to ask if they could issue a shortened version of this report to all of Farepak's agents. The Court ordered that the Joint Liquidators could do this and this shortened report ("the 2011 Agents' Report") has been posted to all of Farepak's agents. If you are not an agent you will not have been sent a copy of the 2011 Agents' Report and you should either speak with your agent to get an update or, alternatively, the report is available to download below.
The full version of the report ("the 2011 Creditors' Report") is also available to download below.
Creditors’ Guide To Liquidators’
Fees
Policy of BDO LLP in
respect of fees
PLEASE NOTE THAT ANY ORIGINAL DOCUMENTATION SHOULD BE RETAINED AT
THE PRESENT TIME AND NOT SENT TO FAREPAK
If you have not already submitted a claim but wish to do so, please write to:
Claims Management Team, Farepak Food & Gifts Limited
- In Liquidation, PO Box 3404, Swindon, SN2 9EQ
We are not able to deal with changes of name or address over
the telephone for security reasons. If you have moved since submitting your original claim, please register your change of address by sending details of your name, your agent's number, the amount of your claim, your old address, your new address and your signature to:
Claims Management Team, Farepak Food & Gifts Limited
- In Liquidation, PO Box 3404, Swindon, SN2 9EQ
If you have changed your name, please forward a copy of the Marriage certificate or other documentation to:
Claims Management Team, Farepak Food & Gifts Limited
- In Liquidation, PO Box 3404, Swindon, SN2 9EQ
In 2008, with the agreement of the Liquidation Committee, the Liquidators issued proceedings against the directors of Farepak in an attempt to secure further monies for the benefit of creditors, which includes customers and agents. The action issued by the Liquidators of Farepak Food and Gifts Limited against the directors of Farepak has been settled with no admission of liability by the directors. An amount of £4 million (inclusive of costs) has been received by the Joint Liquidators. The terms of the settlement are confidential and no further comments will be made.
The Liquidation Committee has asked the Joint Liquidators to work towards taking legal proceedings against other parties to try to recover more money for the benefit of the creditors of Farepak, including agents and customers.
Because this may lead to further legal action, neither the Liquidators nor the Liquidation Committee can provide any further information at this time.
Trust Monies
Please click here for information about the Trust monies ruling on 31 July 2009.
Please see below for answers to certain questions you may have.
1.
What is the report dated 19 October 2011?
This is the report by the Joint Liquidators
summarising what has happened in the fourth year of the Liquidation. A shortened version of this report (“the 2011 Agents’ Report”)
has been sent to Farepak’s agents. If you are not an agent you will not
have been sent a copy of the 2011 Agents’ Report and you should either speak
with your agent to get an update or, alternatively, download the attached report.
2.
Why are there two versions of the report?
The Court allowed the Joint Liquidators
to send a shortened version of the report (“the 2011 Agents’ Report”) to Farepak’s
agents because of the numbers involved and the costs of postage. Both the
2011 Agents’ Report and full length version (“the 2011 Creditors’ Report”)
are available to download from this website.
3.
Why haven’t I heard anything?
By law, the Joint Liquidators report to all agents every year and copies of the most recent report and the longer creditors’ version are always available to download from the website.
If you have any queries about your claim, you should write to:
Claims Management Team, Farepak Food & Gifts Limited – In Liquidation, PO Box 3404, Swindon, SN2 9EQ
4.
When will I get my money?
It is not yet possible
to confirm when a payment will be made to creditors, including agents and
customers. Any updates regarding the date of payment will be posted to this website.
5.
Can I choose to get my money back now and not wait for you to do any more work?
The rules which set out how Liquidations must be run say that all agents and customers must be paid at the same time.
Because there are over 116,000 creditors, including the customers and agents, it will be very expensive to pay a dividend. It will be most efficient for the Joint Liquidators to make sure that, as far as possible, all money that may be due to Farepak is received before paying a dividend. This will keep the costs associated with paying dividends as low as possible and avoid reducing the amount of money available for all creditors including customers and agents.
6.
How much will I be paid?
On present information, the
estimated dividend is likely to be in the region of 15p in the £.
7.
I have received a refund from my card provider - what should I do?
Please write to the Claims Management Team to
inform them of how much you have received and when. The address is Claims
Management Team, Farepak Food & Gifts Limited - In Liquidation, PO Box 3404, Swindon,
SN2 9EQ.
8.
Will I get my commission?
If you think you have a claim against Farepak in respect of your commission, you should write to the Claims Management Team, Farepak Food & Gifts Limited - In Liquidation, PO Box 3404, Swindon, SN2 9EQ
9.
I've still got some Choice vouchers, what should I do?
Please notify the Claims Management Team,
Farepak Food & Gifts Limited - In Liquidation, PO Box 3404, Swindon, SN2 9EQ as soon
as possible.
10.
A Farepak agent/customer has died. How do I notify you?
We are not able to deal with these notifications over the telephone for security reasons. If you wish to notify us of the death of an agent or customer, please send a copy of the death certificate and the new address for correspondence together with the agent's number (if known), to:
Claims Management Team, Farepak Food & Gifts Limited - In Liquidation, |