Frequently Asked Questions

How long does a Liquidation take and how long do I have to wait to get my money back?

There is no set timescale for dealing with a Liquidation because each case has its own set of unique circumstances: it can take anywhere from six months (in a straightforward case) to many years for a very complicated case.

The Liquidator will contact creditors if money is available to be paid to them.

Where are my debts in the order of priority?

The distribution of any money in the Liquidation is strictly dictated under statute, in order of priority. The order of priority in insolvency determines which group of creditors is paid first during an insolvent liquidation. The order of priority is as follows:

1. Secured or fixed charge creditors

   Creditors whose lending is tied to a specific property or asset belonging to the business.

2. Preferential creditors

   Employees, although only for certain debts: unpaid wages; holiday pay; and pension contributions – all subject to limits.

3. Secondary Preferential creditors

   HM Revenue & Customs – Value Added Tax (VAT), Pay As You Earn (PAYE) Income Tax, employee National Insurance contributions (NICs), student loan repayments, Construction Industry Scheme deductions.

4. Floating charge creditors

   Creditors whose lending isn't tied to a specific asset but to a general type of asset.

5. Unsecured creditors

   Creditors who do not have a charge to protect what they are owed e.g. trade suppliers, employees owed redundancy pay, any unsecured loans, and HM Revenue & Customs (unpaid taxes).

6. Shareholders

   Most limited companies are limited by shares which means they are owned by shareholders. A shareholder can be an individual or institution.

I hold Retention of Title ("ROT") over goods. What can I do?

Under a contract for sale, it may specify that legal title (ownership) of goods will not pass to the buyer until goods are paid for. A ROT supplier may, following the appointment of the liquidator, seek to recover its goods from the company in liquidation.

There are two main types of ROT clause:

1. Simple clause: provides that goods supplied under a specific invoice remain the property of the vendor until all goods on the invoice have been paid for.
2. All monies clause: this holds that all goods supplied by the vendor remain its property until all sums due to the vendor, on whatever account, are paid.

If you believe that you have retention of title over goods, please provide copies of all documentation relating to the claim, invoices, delivery notes and the ROT clause and send to enquiries@exigengroup.co.uk.

If the ROT claim is valid, you should be allowed to recover the goods.

The liquidator suggests that you also seek your own independent legal advice in respect of ROT claims.

I purchased items from the company prior to the Liquidation and did not receive them. What can I do?

Where a retailer has gone into Liquidation before delivering goods or services, you may be able to get your money back by claiming a refund from your card issuer.

If you have paid via a credit card and you have paid more than £100 but no more than £30,000, then you may be able to request your money back under Section 75 of the Consumer Credit Act 1974.

If you have paid using money from your PayPal account, then you may be able to open a dispute.

If the above does not apply to your situation, then any amount owed to you may form an unsecured claim in the Company's Liquidation. Accordingly, please complete the Proof of Debt Form and return to the Liquidator at enquiries@exigengroup.co.uk in order for your claim to be lodged in the Liquidation.

A Proof of Debt Form can be located within our letter to creditors, found on our website via the Exigen Portal. The Notice of Website form provides information on how to access this document.

I have information about the conduct of the director. What do I do?

It's important that you tell us about any concerns you have regarding the company's affairs and the director's conduct.

Any information provided will be reviewed by our dedicated investigations department.

Please email us with information or complete a creditors questionnaire and return this to us at enquiries@exigengroup.co.uk.

A creditors questionnaire can be located within our letter to creditors, found on our website via the Exigen Portal. The Notice of Website form provides information on how to access this document.

How do I receive updates on the Liquidation?

All future correspondence (apart from some statutory exceptions) will be uploaded to our website via the Exigen Portal.

The Notice of Website form provides information on how to access documents. It also provides further information regarding the communications that the Liquidator expects to issue and how you may request hard copies of all or any such documents.

Please note that, should the Liquidator need to communicate with you about your specific circumstances or requests, they will do this directly and not via the website.

More information can be found at R3 | Technical Library | England & Wales | Guidance | Creditor Guides.