Unsecured creditors of the 18th century mansion, Brocket Hall, which entered administration in March, are reportedly likely to miss out on about £16.7m.
Winding up Petition Forces Brocket Hall into Administration
Peter Holder, Nick Cropper and Anne O’Keefe of AlixPartners were appointed joint administrators over Brocket Hall International on 31 March 2015.
It was reported that the company was forced into administration as a result of a long period of poor trading, leading to the business experiencing financial difficulties, which led to Her Majesty’s Revenue & Customs issuing a winding up petition.
Creditors Owed Millions
It has reportedly been revealed that the unsecured creditors of Brocket Hall, are owed almost £16.8m while the company’s secured creditor, HSBC Bank, is owed more than £1.6m.
In a report to creditors the administrators reportedly said the outcome for HSBC is “uncertain” while unsecured creditors are set to receive just £31,986.
The document has also revealed that the business continues to trade whilst they continue to look for a buyer and that all employees have been retained.
Winding-up Petition Solicitors
If you have received a winding up petition our legal experts are able to provide legal advice and representation. Our team of solicitors and barristers can obtain a court adjournment; CVA’s or successfully challenge the validity of the winding up petition to ensure that the petition is dismissed, often without public advertisement.