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philliosmaximus

philliosmaximus

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Had a company that owe me a small fortune go into administration on Friday ,
but they are still trading , we have 4 sites going for them with a lot of gear tied up on one in particular, what i need to find out is if their still trading will i get paid what where owed by the administrator or do i need to get my backside into gear and get them struck and cleared , my problem is iam not sure if we can absorb the loss and stay afloat but i dont want to wait until the gates get locked on these sites and cant get our kit out .

Why would a company still be legally trading if the administrators have taken control .
 
Get in touch with admin Phil register your claim.and get you kit off site. One company I worked for registered each job in a different company name. If one site went down ,it didnt take the others with it. Could be something like this going on mate.
 
Calling in the administrators does not necessarily mean that they will go to the wall. If they can be saved, theoretically the administrator should do so. The truth is though, the directors have feathered their own nest already leaving just enough for the administrators to make a fortune out of everybody else's misery.

We have been involved with a few of these Phil. Each time we smashed the site open and retrieved our gear despite the threat of the police on them all and violence on one in particular. Take Id with you and any paperwork you have to prove to the cops you are who you say you are and that you own the gear and the cops won't touch you as it's a civil matter.

The administrator will want to keep your gear for as long as possible.
 
Take your gear asap... and accidentley remove some extras... must be some lead hanging around???
 
Phil, Get Your Gear Off Site Asap, And If The Adminastrator Requires You Back On Site Charge Them For It.
 
I had this happen to me maximus and by the luck of god cleared my materials off site before the administration locked the gates anything on site is deemed theirs once they have locked the gates usually this will be dealt with cooper waterhouse stone if the company as transferred its assets over and started up as a new company still clear your materials on entering site if you cause damage then this will be classed as a criminal offence if its harris fencing undo the clips retrieve your stock if you can find out who the administrator is contact them first thing in the morning and explain the situation that none of the stock on site relates to the company that as gone into administration if all fails just break the law and retrieve your stock and you will probably end up with a trespass offence when the police turned up on the site I was at and told the police the materials was nothing to do with the company and told I needed to retrieve my stock which I could prove with sales invoices I was granted 2 days with a watchman on behalf of the administrator to make sure we didn't take anything else and if this is going to ruin you maximus set up another company open an account in the new company name and transfer all your assets over to the new company its a sad state of affairs but its dog eat dog I wish you all the best such ashame this as happened to you when the work as started to pick up goodluck.scc
 
We had a job up in bewdley for a company called david payne homes who went into admin, we went strsight there in three wagons are stripped the job 3 lifts down from roof level so the they couldnt complete the job. Then went back two weeks later to strip the rest, im led to believe they rang up and ssked to settle the payment in cash.
But i would grab your kit back mate asap.
 
They want you to carry on so should pay something on account, goodwill an all that Phil.
 
Lagan boss sent a bullet in the post over merger talks. Ffs Phil, I thought they days were behind us.

Your right to speak to your accountant, he may be required to negotiate on your behalf but by the sounds of it unless you and everyone else world wide is willing to take a massive hit with a smile on your face this lot are going down. Of course they want to carry on as normal, the only real question is, do you?

These idiots are all the same in my book, they remind me of drowning men willing to take anyone down to stay afloat a bit longer. :mad:

Genuine good luck for what it's worth whatever you decide. The only offer I could possibly make to try and help is I would be more than willing to help you out if you need a load on the deck fast. ;)
 
If the administrator deems it possible to recover the losses Phil by finishing the contracts what you will need is an immediate payment for the scaffolding that they require to finish the project or they may approach another contractor for a sale take over even though things may look bleak Phil you will know more tomorrow you may even come out of this on top you need answers straight away from the administrator to find out their course of action if you have a lawyer Phil I would call him tomorrow the main thing is don't let the stress get you down good luck maximus and if this is going to be the ruin of you just remember transfer everything over

---------- Post added at 01:04 PM ---------- Previous post was at 01:01 PM ----------

ps Phil iam not local but will help you if you require and I have a class 1 anything to help
 
get your gear off all the jobs phillio as admin is usually a precursor to liquidation in the construction industry,not good start to the year hope all turns out well all the best cb.
 
It's a sign the economy is improving when the underpricing main contractors find they can't cover rising costs. Phil they are just telling people they are continuing while the administrators take stock of the companies position. Administrators make their money in winding companies down then change their hats to 'the receivers' and liquidate the goods (taking 5 years at least to complete).
If they dont come up with a substantial payment on Monday clear your boards first then the steel.
 
All the best phil, hope you get more clarity tommorow. Offers geos the same as al, you need a hand give me a call.
 
Thanks for all the offers of help and advise lads its much appreciated , strange thing is we got a payment last Tuesday of them for almost £20k , they also have a pre start date next week for a new site in Surrey worth £22 million to them which includes over £100K scaffold package.

So glad i got my new IW as it looks like its gonna have one busy week
 
The administrator can not sell your gear, he can only sell assets that belong to the company going into administration - they can tie your gear up till it's all sorted out though, which is a worry. What will probably happen, they will put together a package that 80% of creditors have to agree too, usually 10 or 20p in the pound, over a period of three to 5 years - which basically means you're going to get very little or nothing.

I'd strike all your gear anyway, and if they want you back on site, ask for payment on re-erection of the job. Best of luck with it mate.
 
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