Liquidating the collection of a bankrupt jeweler
Any money left over from the sale after the debt has been repaid is added to the sum to be shared between the other creditors.
The trustee or liquidator will distribute any proceeds from sold assets to unsecured creditors in this order of priority: The OR/IP should contact you if they know you are a creditor and ask you to complete a proof of debt template.
In this case you should search the Individual Insolvency Register to confirm the insolvency of each individual of the partnership.
You can also search the register using the partnership’s trading name.
This publication is available at https://uk/government/publications/claim-money-back-from-a-bankrupt-person-or-company-in-compulsory-liquidation-guidance-for-creditors/claim-money-back-from-a-bankrupt-person-or-company-in-compulsory-liquidation-guidance-for-creditors If you’re owed money, you’re a creditor of the person or company that is in debt to you.
As a known creditor, you will receive a report giving estimates of the insolvent’s assets and liabilities and the circumstances of the insolvency.
If you have any further information about the assets of the individual or company, or about the conduct of the individual or company directors, write to the OR/IP.
The early stages of a bankruptcy or liquidation are normally handled by an official receiver (OR).
ORs work for the Insolvency Service and are attached to the court.