Joint Administrators’ Statement of Proposals pursuant to paragraph 49 of Schedule B1 of the Insolvency Act 1986 (As Amended)
Points to highlight
A copy of the Administrators’ Proposals, Creditor’s request for a meeting Form 2.21B and Proof of Debt Form are attached. The Administrators are not required to call a creditors meeting if the Company have insufficient funds to make a distribution to the unsecured creditors, unless 10% of the value of the Company’s unsecured creditors request it.
There will be no funds available to make a distribution to the unsecured creditors of the Company including under the Prescribed Part, therefore creditors meetings will not be convened.
Should unsecured creditors of the Company, whose total debts amount to at least 10% of the total debts of the Company, wish to request that a meeting be held they should complete the attached form 2.21B and return it to the Administrators within 8 business days of the date of the proposals. In the absence of a meeting being called, the attached proposals will be deemed to have been accepted.
Should you require these documents to be provided in hard copy format please telephone/email as indicated above to obtain copies without any charge to yourselves.
London & Guernsey Property Corporation Limited – in Administration. M J Cowlishaw and D J Langton appointed Joint Administrators.