Hi Guys I have not suffered any loss with this company but sympathise with those who have. I am just making a couple of points to try and be helpful here. First, a Judgment does not make you a preferential creditor. Preferential creditors are people like employees etc. A CCJ in itself does not make you any more than an unsecured creditor. Second, it is unlikely that the police will be interested until the liquidator has finished his enquiries and they will consider it a civil matter. Likewise, trading standards are not likely to get involved at this stage either, not that they could do much anyway. The problem with this situation as I see it will be that there is likely to be lots (thousands perhaps) of small creditors who are owed maybe £100 or so tops. If the company have appointed their own provisional liquidator, the only way to overturn this would be to collect as many proxy votes from as many creditors as possible with a view to overturn their choice of liquidator and appoint someone else. The problem with this is initially the time factor, there is not much time to organise this as the creditors meeting is little more than a week away and you would need to get a majority of creditors to vote against the appointment of the provisional liquidator. The liquidator has a duty to investigate the conduct of the directors and if necessary can take action against them. The directors (or at least one of them) has to be present to chair the creditors meeting. If anyone has time to attend the meeting, I would suggest that a proposal is made that a committee of inspection should be convened to assist the liquidator to carry out investigations into the director's conduct. I wish you all luck regards - Colin

Hi There this is my first post on this forum so hope I dont breach any etiquette. I am a little confused regarding yur statement: The remaining £20,000 would go into an IVA Pot for me (who took on many of the joint debts). In addition to this £20,000 I were also instructed to pay £285 per month. If your wife managed to settle her debts with her share of the equity, how has it concluded that you have 'taken on the joint debts' if the debts were joint and several your creditors wouldnt accept this anyway, can you explain please? It sounds to me from what you have said, that an IVA may not have been the appropriate way forward for you, you should not be getting further into debt. Furthermore, the review would not have been taken with a view to reduce your debt an IVA is not flexible and if you have gotten yourself into arrears, your supervisor can fail the IVA and if there is a bankruptcy clause in the arrangement (not very common these days) then he is duty bound to make you bankrupt. You say that it was the inflexibility and attitude of your supervisor that has lead to the failure of the arrangement? I don't think (with respect) that you could expect to win that argument, there is no flexibility built in to an IVA, any flexibility is at the discretion of the supervisor. The only thing that I could suggest is that you try and get back in his good books, I appreciate that this will not exactly sit well with you, but considering that you are staring bankruptcy in the face, it may well be in your best interests to get the IVA back on track and you need to move quickly. Hope this helps