Insolvency Notices

Company

PRIEST & CO LTD

Notice Type
Other Corporate Insolvency Notices
Publication date
29/10/2018
Edition
The London Gazette
Notice ID
3140236
Notice Code
2408

PRIEST & CO LTD

01682825

Registered office: 31st Floor, 40 Bank Street, London E14 5NR

Principal trading address: (Formerly) 8-9 Lovat Lane, London EC3R 8DW

We, Kirstie Jane Provan (IP No. 009681) and Irvin Milton Cohen (IP No. 18412) both of Begbies Traynor (London) LLP, 31st Floor, 40 Bank Street, London, E14 5NR were appointed as Joint Administrators of the Company on 13 May 2014 and 8 November 2016 respectively.

The Company had client accounts which the Joint Administrators understand were operated as insurance brokerage accounts ("Client Accounts") where client money was deposited. The Joint Administrators' preliminary view is that the Client Accounts were trust accounts specifically for the purpose of holding funds for clients of the Company relating to insurance brokerage services provided by the Company to its clients. The Joint Administrators' preliminary view is that these monies were client monies (and did not become Company monies) and accordingly on the insolvency of the Company these monies should be returned to those clients/customers that have a valid claim to receive them.

The Joint Administrators invite anyone who was a client of the Company, and/or who believes they have a financial interest in the funds held in the Company's Clients Accounts, to contact the Joint Administrators (address details as above), in writing by 30 November 2018 to explain the basis for their claim (i.e. value of claim accompanied by supporting evidence to demonstrate why a claim exists specifically against the funds in the Client Accounts).

Once an indication of the number of potential beneficiaries and quantum of claims becomes known the Joint Administrators then intend to apply to Court for directions as to the payment of their costs and the distribution of the funds held in the Client Accounts. Please note that the final value of claims against the funds may exceed the value of the funds in the Clients Accounts.

Any person who requires further information may contact the Joint Administrator by telephone on 020 7516 1500. Alternatively enquiries can be made to Megan Campbell by email at Megan.Campbell@begbies-traynor.com or by telephone on020 7516 1518.

Kirstie Jane Provan, Joint Administrator

23 October 2018

Ag ZF71978