What has happened?

The Directors of LedgerEdge Ltd had been looking for an alternative solution for the company. Having exhausted all options, a difficult decision was taken by the directors to appoint David Robert Baxendale and Edward John Macnamara of PwC as joint administrators of LedgerEdge Ltd, the UK entity of the LedgerEdge Group.

Should I continue to supply goods and services to the business?

The Company in administration is not continuing to trade and you should not continue to provide goods and services unless a member of the administration team reaches out to you to discuss this. Some goods and services will be required for the ongoing wind down of the business, to this end your ongoing support is greatly appreciated and is critical to securing the maximum return for the creditors. Goods and services ordered by the Joint Administrators or their authorised representatives will be paid for by the administrator. 

Am I required to continue providing service or supplies?

The Joint Administrators may request that you continue to supply goods and services to the company during the administration and will provide assurance that these goods and services will be paid for. 

I am owed money. What notification will I receive?

The Joint Administrators will publish a report via the case website to all known creditors and members within eight weeks of the appointment. This report is known as the Joint Administrators’ proposals and will outline steps taken by the administrators to date and the strategy going forwards.

The Joint Administrators are also required to provide a written update on the administrations to all known creditors every six months. This report will be published to the case website within one month of every six month anniversary or earlier if an administrator vacates office or an extension to the administration is granted.

When will I get paid?

Payment for goods and services provided prior to the date of appointment will not be paid for as an expense of the administration estate. 

All outstanding amounts at the date of the Joint Administrators’ appointment rank as an unsecured claim in the administration. You can submit a claim into the estate for the amount you were owed prior to their appointment. If there are funds available, you may receive a dividend payment in due course, although at this time we cannot estimate what this will be. 

We will shortly be providing guidance on how to submit a claim via an online creditors portal.  Our preferred method for creditors to submit claims and supporting documents is via the Turnkey (IPS) online portal, as this is the most efficient and cost effective way for us to deal with your claim and also allows you to better track its status, so we recommend the use of the online portal for claim submission.  Your unique login details will be sent to you separately. If your claim includes VAT, you may be able to obtain VAT bad debt relief six months after your supply.

Will you refund the costs incurred in preparing a claim? 

We are unable to refund the costs in preparing a claim. Consequently, we cannot refund any expenses incurred in obtaining information necessary to make a claim.

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