The administrator is deploying a bad company to run the property

Discussion in 'Insolvency' started by Ali81, Dec 19, 2019.

  1. Ali81

    Ali81 UKBF Newcomer Free Member

    13 0
    Hello
    Introduction:

    M/s Quantuma
    is the administrator for a particular company that declared administration/bankruptcy, actually, it is a scam from this company just to collect investor money. Unfortunately, Quantama deployed a very bad company to run the property in behalf of the previous company, I have sent them several emails to stop deploying this bad company who will probably declare administration as per the previous company, this new company do not have any assets and full of dept :( which means that i will no get rental/cash next year like the previous years

    M/s Quantuma did nor reply to my emails and they are proceeding to deploy


    My Question

    Since Quantuma do not listen to me and they proceeding to deploy this bad company , what can i do more to stop this
     
    Posted: Dec 19, 2019 By: Ali81 Member since: May 31, 2019
    #1
  2. Mr D

    Mr D UKBF Legend Free Member

    22,762 2,737
    OK what is your relationship to this company? Shareholder? Director?
    Or what is your involvement with what this company is doing?

    Did this company go into administration or become insolvent?
     
    Posted: Dec 19, 2019 By: Mr D Member since: Feb 12, 2017
    #2
  3. Ali81

    Ali81 UKBF Newcomer Free Member

    13 0
    I am an investor, I gave them money to manage my real estate unit, and they did not comply with their contract and declared administration. Then this fraud company declared administration and M/s Quantuma arrived to be the administration for this company
     
    Posted: Dec 19, 2019 By: Ali81 Member since: May 31, 2019
    #3
  4. Mr D

    Mr D UKBF Legend Free Member

    22,762 2,737
    Ok so a company went into administration that owed you money.
    Another company, this fraud company, then declared administration. What is the relationship between the two companies?
    Who appointed the administrator?

    You are giving us only a partial view of the situation.
     
    Posted: Dec 19, 2019 By: Mr D Member since: Feb 12, 2017
    #4
  5. Ali81

    Ali81 UKBF Newcomer Free Member

    13 0

    please check my answers in blue


    the administrator is Quantuma, who is the administrator,



    the Quantuma deployed another company (who is a very bad company and probably will declare administration), I do not want this company because there is a very big chance they will declare bankruptcy/administration as per the previous one.

    The administrator did not choose the right company to run my property, he shall deploy adequate company to avoid
     
    Posted: Dec 19, 2019 By: Ali81 Member since: May 31, 2019
    #5
  6. Mr D

    Mr D UKBF Legend Free Member

    22,762 2,737

    Your contract with the company you invested in - does it give you any power at all?
    Usually directors and shareholders making decisions, each with their own powers. Not always, sometimes contracts allow strange stuff.

    Not following how declaring insolvency (companies don't go bankrupt, individuals do) or administration as per the previous one is relevant. If company is insolvent the options are usually limited and certain legal actions have to be done.
     
    Posted: Dec 19, 2019 By: Mr D Member since: Feb 12, 2017
    #6
  7. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    3,515 445
    I am a little confused by your post.

    You say Quantuma has deployed another company who you don't want because they will probably declare Administration.

    What have they deployed the subcontractor to do?

    Do you perhaps mean they have sold the Company's assets/business to another firm?

    If you believe Quantuma have committed any wrong doing, and they have not responded to your complaints you can complain further here:

    https://www.gov.uk/complain-about-insolvency-practitioner
     
    Posted: Dec 20, 2019 By: Lisa Thomas Member since: Apr 20, 2015
    #7
  8. Ali81

    Ali81 UKBF Newcomer Free Member

    13 0
    it is under admin and i have limited power in the contract, if they do not comply with obligation i have measurement to implement, i do not remember the exact clauses related to this
     
    Posted: Dec 22, 2019 By: Ali81 Member since: May 31, 2019
    #8
  9. Ali81

    Ali81 UKBF Newcomer Free Member

    13 0
    1- They deployed a subcontractor because they do not have the experience to manage properties,

    2- Actually, the new company do not have any assets at all, they have a lot of depts, their profile is bad

    3- I have already complained against them, I tried to obtain from them feedback about this crucial subject , but i did not get anything from them
     
    Posted: Dec 22, 2019 By: Ali81 Member since: May 31, 2019
    #9
  10. Mr D

    Mr D UKBF Legend Free Member

    22,762 2,737
    1 - OK that's not uncommon.

    2 - the subcontractor does not have any assets? Nothing to do with you, your contract is not with them.

    3. - you may not be entitled to information.
    Certain things are handled by directors, you may or may not have access to that information. Plenty of companies do not share their internal policies, decisions etc.
     
    Posted: Dec 22, 2019 By: Mr D Member since: Feb 12, 2017
    #10
  11. Mr D

    Mr D UKBF Legend Free Member

    22,762 2,737
    Details matter. However under admin the company has to comply with certain things.
     
    Posted: Dec 22, 2019 By: Mr D Member since: Feb 12, 2017
    #11
  12. Ali81

    Ali81 UKBF Newcomer Free Member

    13 0
    my comments

    1- noted
    2- I think it will be a problem because this subcontract will declare he is under admin and will be in the dilemma forever

    3- noted
     
    Posted: Dec 28, 2019 By: Ali81 Member since: May 31, 2019
    #12