A company I (my Ltd Co if it matters) has been working with for the last couple of years has just gone into voluntary liquidation. Frustratingly I only spoke to them a couple of weeks ago and nothing was mentioned and I’ve only found out about this through a standard letter from the receivers.

The problem is they owe me a bit of money and they’ve got my vehicle. I’m not bothered about the money, I’d already written that off but I do want the vehicle back. It’s a prototype and worth a lot to me if little to anyone else.

What’s the legal position re possession? (They’ve been storing it and using it for promotion while I figure out what to do next).

I’ll have a word with the receivers later when I’m sure it’ll all become clear but is it likely to be as easy as just going over and picking it up?

Cheers

Gary

I’m assuming by “My vehicle” you don’t mean a road legal vehicle registered in your name?

If it is registered in your name, or you can prove it is legally yours, go and get it.

You’ll need to prove ownership, as otherwise the Receivers will assume it’s theirs to sell.

Rather than posting here I’d be around there PDQ.

If you can prove ownership you should be able to get it back through the receivers. If you can’t you may be in trouble.

I’d get possession now if possible and have a row about ownership later.

I’d get possession now if possible and have a row about ownership later.

I’m sure somebody will be along to say why this is a terrible idea legally speaking but it is what I would do.

Thanks guys – confirms what I’d thought.

Just for reference it is road registered but as a prototype and they did the paperwork for it so I need to get that bit clarified. Hopefully it’s all done in my name and there will be no ambiguity but we’ll have to see.

Just followed you on LinkedIn. Looks awesome. Something I’ve always had in my head to do, wished I’d done at Uni, and never did.

All the best.

If you can get an invoice in place, (backdated if necessary) and ensure it has a Retention of Title clause, (which means title doesn’t pass until the invoice is paid, pretty standard practise these days) then you should be covered, but get possession if you can anyway.

Just followed you on LinkedIn. Looks awesome. Something I’ve always had in my head to do, wished I’d done at Uni, and never did.

All the best.

Thanks Brant I’ll accept that later but right back at you – you’re living one of the dreams I’ve had for a long time and you’re a hell of a lot better at that than I am a this so far. 🙂

The next phase should be proper fun though.

G

Oh and thanks for all the advice guys – much appreciated.

if its in voluntary liquidation then it will be a liquidator appointed and not a receiver (technical but important difference). If title to the goods is yours (and this can be established one way or another in a number of ways) then it should be yours to collect. However, just going to get it is not always that easy or right. Where is it? Do you have a right of entry or will you be trespassing? The liquidator will need the opportunity to make sure it is not his so without this and proof he will resist any attempt to collect (which would involve the police/security). If he didn’t do that a lot of assets would just disappear.

The liquidator will not want to keep something he does not have title to (pay insurance, storage charges etc). For what my opinion is worth I would think getting evidence together(emails, delivery notes, your detailed versions of events etc) to prove it is yours – call the liquidator/his staff a lot (basically be a pain – it is just these peoples jobs and they will not be that well paid so you will need to make yourself a priority), give them the evidence and say you want to collect asap. And keep pushing.

As a slight tangent – as a creditor you should have received prior notice of the impending voluntary liquidation. Is it insolvent? i.e. Creditors’ Voluntary Liquidation? If it is a Members’ Voluntary Liquidation it means it is solvent and all creditors will (eventually) be paid in full.

Medders – I got the notice in the post on Friday but didn’t see it until after their offices shut so I couldn’t get through. There’s some creditors meeting being arranged for the 15th in London which is a PITA to get to but I’ll finish here early and get on the phone to them later.

Just wish the boss would answer his mobile – he’s a really good guy and I’m sure he’s in turmoil about having to do this. He’s got some great guys working for him and I’m sure this wasn’t easy.

G