Updated 27 April 2010

 

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.

Report to Creditors

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 2009 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 2009 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 2009 Creditors' Report") is also available to download below.

2009 Agents’ Report

2009 Creditors' Report

Creditors’ Guide To Liquidators’ Fees

Policy of BDO LLP in respect of fees

Customer & Agent Claims

PLEASE NOTE THAT NO FURTHER MONEY SHOULD BE SENT TO FAREPAK. 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 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

Legal Proceedings against Third Parties

In May 2008, with the agreement of the Liquidation Committee, the Liquidators issued proceedings against a number of parties 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.

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 14 October 2009?

This is the report by the Joint Liquidators summarising what has happened in the second year of the Liquidation. A shortened version of this report (“the 2009 Agents’ Report”) was posted to all of Farepak’s agents. If you are not an agent you will not have been sent a copy of the 2009 Agents’ Report and you should either speak with your agent to get an update or, alternatively, the report is available to download from this website.

2.      Why are there two versions of the report?

The Court allowed the Joint Liquidators to send a shortened version of the report (“the 2009 Agents’ Report”) to Farepak’s agents because of the numbers involved and the costs of postage. Both the 2009 Agents’ Report and full length version (“the 2009 Creditors’ Report”) are available to download from this website.

3.      Why wasn't there a meeting of creditors?

The Insolvency Act 1986 states that the Joint Liquidators should hold a meeting of the creditors within three months of each anniversary of their appointment. On 5 September 2008, the Court ordered that such meetings should not be held, following the Joint Liquidators' application. The Joint Liquidators were concerned that agents and customers who had already suffered a loss might have to take time off work and spend money on travelling to a meeting and that the costs of hiring a venue large enough to hold the number of creditors would be significant.

4.      Why haven’t I heard anything?

Due to the large number of claims received and in order to keep administration costs as low as possible, the Joint Liquidators (previously the Joint Administrators) are unable to acknowledge each claim received at the present time.

5.      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.

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?

You will have a claim against Farepak in respect of your commission and the Joint Liquidators will be working to calculate this claim. You should include details of this claim when completing a claim form.

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,
PO Box 3404 ,
Swindon , SN2 9EQ