image/svg+xmlsadlers
SUMMERS
POULTRY
LIMITED
•
LIQUIDATION
Major feed suppliers request Liquidation to
collect debts and investigate directors
The Company, based in the Midlands, had already entered
Administration, at the request of its directors, and a meeting of creditors
had been called to present the Administrators’ proposed strategy. Due to
Rob Sadler’s reputation as the leading agricultural
insolvency practitioner,
he was approached to attend the meeting on behalf of
several
major feed
suppliers, all of whom had significant monies outstanding to them.
It became to clear to Rob that there were
a few
actions of the directors
that required inve
stigation and, having presented this information to the
meeting, the creditors voted for him to be appointed as Liquidator to wind
up the company’s affairs. This would include collecting debts due to the
company from hundreds of halal butchers nationwide.
Once the company’s books and records had been reviewed, the
Liquidators identified and commenced
Court
proceedings against the
directors for breaches of insolvency legislation; including wrongful trading
and misfeasance. This led to a financial settlement
with the directors,
which increased the level of funds that were initially thought to be
available in the Administration estate.
For further information:
Call Rob Sadler on 07867 787974 or
email rob@sadlers.ltd.
Sadlers is an independent firm of
licens
ed insolvency practitioners, based
in York and undertaking appointments
across the North of England and
beyond.
Specialists in agriculture, with
significant experience in corporate
restructuring and personal insolvency,
Sadlers provides a partner led serv
ice to
its clients.
Rob is a member of the Agricultural
Lawyers Association.
© Sadlers 2018
Note that Rob Sadler
undertook this appointme
nt whilst a p
art
ner of Begbies Traynor
(Central
) LLP