Client In Administration

[callo]

Hello

I'm a contractor and my client has just gone into administration owing me 9K in unpaid invoices. I have obviously read what the process is now (administrators selling off assets, paying creditors, etc), but it seems that there is little chance of there being anything left by the time they get down to me. Is there anything at all I can do? Are there any companies who can chase this money for me?

Help!

Thanks

 

[Scalloway]

I would think once a company is in administration there is no scope for one creditor being paid before another. Every unsecured creditor will get the same percentage of their debt.

 

[jackal999]

I agree with Scalloway.

If there were a way to force the Administrator to give preference to one unsecured creditor over another then what would be the point of Administration.

Sadly the choice to extend credit to an entity that is in difficultly is what now haunts you.

Unfortunately it's a lesson you have learnt the hard way but I wish you luck in going forward.

J

 

[The Sheriffs Office]

Agreed as above.

My own experience of any insolvency is that any money is largely swallowed up by the IPs fees or by preferential creditors. The small business man rarely gets a penny.

 

[callo]

I feared as much. Thanks for your help anyway.