If you are a creditor of an insolvent company or a bankruptcy, Oliver Elliot can help you address your claim and concerns arising from the insolvency.
FREE help to get money from a liquidation.
Creditors can really assist in the process of reconstructing records by providing the emails, WhatApp messages and SMS messages that you had with the insolvent company or individual once your debt started going unpaid. That is potentially very useful because it may enable the Insolvency Practitioner to discover and pinpoint with precision the date or period at which the company or individual became insolvent.
In all likelihood, you may at some point have emailed the insolvent entity and enquired as why payment had not been made on time. You may have had responses to explain why there was a problem and there might even have been some repetition of this as time went on. That will be very important information for the Insolvency Practitioner to see because successfully prosecuting potential causes of action such as Wrongful Trading and Misfeasance may be hugely dependent upon such information. This is information which might be at your fingertips and readily available.
The Point Of Insolvency
Why is that point of insolvency so important? The point of insolvency is so important in insolvency proceedings because the transactions that for instance Directors cause or permit an insolvent company to enter into after that point in time can no longer be approved by the shareholders if they were not undertaken for a proper purpose and in the best interests of the company. Those transactions may well be recoverable by the Insolvency Practitioner to get better recoveries for creditors.
Insolvency is a class action so the more creditors come together to share their information with the office-holder the better. Your getting other creditors to also share their information on the insolvent entity will therefore also be particularly helpful.
Why Are The Emails So Important To An Insolvency Investigation?
Why are the email and similar messages so important? The email messages are so important because they are likely to show someone’s actions and intentions at the relevant time. This enables subsequent explanations provided by those responsible for the demise of the insolvent entity to be properly scrutinised and where applicable challenged. If the Insolvency Practitioner is provided with verbal explanations by say the Directors that do not accord with their earlier email messages, then claims against the delinquent Directors may be materially assisted.
It is not uncommon for creditors to write at length about their experiences of having worked with the insolvent entity, setting out their grievances. However, although a useful starting point to enabling the Insolvency Practitioner get an understanding, such correspondence without the historical emails and messages, risks being confined to no more than mere assertion. The ability to support such an assertion with reference to direct evidence that proves what happened at the time is potentially invaluable.
Through sharing information, working together with the Insolvency Practitioner, getting a better understanding of the process and remedies, identifying the key issues, questioning discrepancies and adopting an enquiring mind, creditors can greatly improve their prospects of getting better recoveries.
Creditors interested in our No Recovery No Fee insolvency option to understand ‘Free Help to Get Money from a Liquidation’ can contact us and our CEO, Elliot Green on 020 3925 3613 or us email at email@example.com.