Move
from Administration to Creditors’ Voluntary Liquidation
On
The Joint Administrators have carried out
the limited investigations which they are allowed to by law. Now that Farepak is in Liquidation, the
Liquidators have greater powers to investigate the circumstances
surrounding the failure of Farepak and can take action against any parties
which may increase the money available for creditors. A Liquidator can also agree unsecured
creditor claims and pay a dividend to unsecured creditors.
By law, the Joint Liquidators do not have to
report to Farepak’s creditors, including agents and customers, until the
anniversary of their appointment, i.e. October 2008. The Joint Liquidators will, however, carry on
using this website as a way of updating all of Farepak’s creditors, just as the
Joint Administrators did.
Final
Progress Report
The Insolvency Act 1986 states that the
Joint Administrators should report to all known creditors within four weeks of
the six month anniversary of their appointment on
This report (“the Final Creditors’ Report”)
has been filed at Companies House and at Court and a copy is available to
download below. A shortened version of
this report (“the Final Agents’ Report”) was posted to all of Farepak’s agents
on
Please
note that the Form 2.34B attached to the report is for reference only and
SHOULD NOT be forwarded to Companies House.
Creditors’ Guide To
Administrators’ Fees
Policy of BDO Stoy Hayward LLP in
respect of fees