keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 4,587
Likes: 2,622
|
Post by keitha on Jul 28, 2024 10:46:27 GMT
as many of you know I buy quite a lot of bits from online liquidation / administration auctions.
there's one due to end on Tuesday morning, there's a comment that another 100+ lots are to be added shortly, I hope that given nothing will appear now until tomorrow that either this 100 lots will form a separate sale or the timescale will extend. At the moment there is nothing of interest to me, but the extra 100 could be but will people check tomorrow.
But as per the thread title, as a creditor I'd be upset if these 100 lots are added tomorrow and the auction ends on Tuesday morning, its hardly going to get best value for creditors.
|
|
|
Post by bernythedolt on Jul 28, 2024 11:52:12 GMT
For some reason, we like to think administrators care first and foremost about creditors. I suspect administrators care mainly about administrators though.
Like most predators, once they've gorged themselves to a frenzied crescendo - all on a least-efforts basis, naturally - if there happens to be anything left over for the lesser beasts (creditors), that's just a lucky side effect.
|
|
keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 4,587
Likes: 2,622
|
Post by keitha on Jul 29, 2024 21:44:13 GMT
I personally know of an administration where the Administrators costs couldn't be met the books showed £84,000 of debts the Administrators recovered little over £500.
a big chunk of money owed was from the sale of the goodwill / existing contracts, the company that purchased these contract then almost immediately was struck off ! the guarantor for the company owns nothing . Many of the other debts were disputed
|
|