Insolvent directors asking for equipment return

[ajessup]

Hello!

Ok so I am not a business owner directly involved in the company I am enquiring about about here, but I was an employee with the company in question…

The company I worked for has been placed in insolvency recently. My employment contract terminated, no salary pay for the month, or notice pay etc. I worked from home for the company and so still have the computer I used.

So while I will obviously need to hand this back, my assumption was this would be the liquidator that would request it and contact me in due course. However, the directors have made contact and asked me to personally return it to one of their homes.

To me, this does not sound right. I’ve heard lots of stories of insolvent directors hoovering back up offsite equipment and it then being used to set up a new company, “disappearing” in the process.

My question is, should I respond? Should I ignore and wait for the liquidator to contact me?

Thanks!

 

[Gyumri]

the office holder for the company is now the liquidator so I would think best to clear it with him first before handing it over - although it may turn out that it does not belong to the company, but to the director personally.

At the present time you seem to be piggy in the middle.

 

[Chris Ashdown]

The directors positions are no longer, the liquidator has sole power over the company and its assets, and I assume he will have little interest in a computer, but if you would like to keep it then make the liquidator a small offer, as a very general rule assets sold by the liquidator often only sell for about 10-15% of cost at auction

 

[ajessup]

the office holder for the company is now the liquidator so I would think best to clear it with him first before handing it over - although it may turn out that it does not belong to the company, but to the director personally.

At the present time you seem to be piggy in the middle.

Ok thanks, this is what made logical sense to me. I know for certain it is/was 100% owned by the company and not a lease or anything like that.

 

[bovine]

Its unclear from the post, but has a liquidator/insolvency practitioner actually been appointed or has the company just said we're insolvent and stopped trading? If its the latter, then you should return the equipment.

 

[ajessup]

Its unclear from the post, but has a liquidator/insolvency practitioner actually been appointed or has the company just said we're insolvent and stopped trading? If its the latter, then you should return the equipment.

Yes a liquidator has been appointed prior to the request from the director.

 

[Newchodge]

Yes a liquidator has been appointed prior to the request from the director.

Then contact the liquidator and ask their advice.

 

[prophet01]

My employment contract terminated, no salary pay for the month, or notice pay etc.

Then contact the liquidator and ask their advice.

...Or not
the OP appears to believe they're owed something. If the liquidator wants the equipment they can do the chasing.

 

[JEREMY HAWKE]

Good Morning

I am with @prophet01 on this one I would be going completely off piste

I would be telling the administrators on Monday that you are not returning the equipment until you see the money you are owed in the bank

 

[Newchodge]

Good Morning

I am with @prophet01 on this one I would be going completely off piste

I would be telling the administrators on Monday that you are not returning the equipment until you see the money you are owed in the bank

@prophet01 is not advocating that. They appear to be advocating not telling the liquidators about the equipment. Refusing to return the property of another in these circumstances is probably criminal. Quite apart from the fact that a piece of second hand IT equipment is unlikely to be worth what the OP is owed.

The liquidator is responsible for ensuring that the OP receives what they are entitled to, from the Redundancy Payment Fund if from nowhere else. Contacting them and following their advice is a good idea.

 

[prophet01]

@Newchodge

@prophet01 is not advocating that. They appear to be advocating not telling the liquidators about the equipment. Refusing to return the property of another in these circumstances is probably criminal.

You're free to infer whatever you wish.

 

[ajessup]

Thank you for everyone’s advice! Yes I’m not planning on doing a disappearing at, despite not being paid. I don’t actually have any details for the liquidator so I will just need to wait for contact from them anyway.

 

[Newchodge]

.

@Chris Callaghan @Lisa Thomas or some of our other IPs may be able to help you get that information. Hopefully they will be around soon.

 

[Lisa Thomas]

Please note people often think IP's have been appointed liquidators when they haven't. They have often been instructed, but not yet appointed. There is often then a 2-3 week hiatus while the liquidation is prepared.

In this period the Directors retain control of the company's affairs.

In any event the Directors have a duty to hand over the company's assets and records, which will include the laptop.

If you are unsure, simply ask the Liquidator for clarification.

 

[Lisa Thomas]

If you don't return the laptop, the liquidator can take action against you personally. If you were an employee of the company you should be able to claim most, if not all, money back from the government scheme known as the Redundancy Payments Office.

The liquidator can give you full details of that.

If you haven't got their details because they haven't yet contacted you, this might be because they haven't yet been appointed.

 

[Chris Ashdown]

If you don't return the laptop, the liquidator can take action against you personally. If you were an employee of the company you should be able to claim most, if not all, money back from the government scheme known as the Redundancy Payments Office.

The liquidator can give you full details of that.

If you haven't got their details because they haven't yet contacted you, this might be because they haven't yet been appointed.

Or all the information is on your computer?????

 

[IanSuth]

Talking about that - remember if you plan to keep it by purchasing from the liquidator to factor in licences for software - it was likely under various volume licensing deals with oldbustco and thus you may not be able to legally use that software even if you buy the hardware (factor that into any offer)

 

[ethical PR]

Hello!

Ok so I am not a business owner directly involved in the company I am enquiring about about here, but I was an employee with the company in question…

The company I worked for has been placed in insolvency recently. My employment contract terminated, no salary pay for the month, or notice pay etc. I worked from home for the company and so still have the computer I used.

So while I will obviously need to hand this back, my assumption was this would be the liquidator that would request it and contact me in due course. However, the directors have made contact and asked me to personally return it to one of their homes.

To me, this does not sound right. I’ve heard lots of stories of insolvent directors hoovering back up offsite equipment and it then being used to set up a new company, “disappearing” in the process.

My question is, should I respond? Should I ignore and wait for the liquidator to contact me?

Thanks!

Ask the liquidator