Petroplus Refining & Marketing Limited (in Liquidation) ("PRML") and Petroplus Refining Teesside Limited (in Liquidation) ("PRTL")
PRML Update 9 January 2024
The Joint Liquidators of PRML have published their final account which covers the period 16 January 2023 to 5 January 2024 together with a summary of the insolvency and notice to creditors before dissolution.
Joint liquidators final account - 8 January 2024
As the Joint Liquidators have issued a final account, there will not be a progress report for the period ending 15 January 2024.
Unbanked Distribution Payments
All unbanked payments from the unsecured distributions have been transferred to the Insolvency Service. Creditors will be able to reclaim the distribution payment due to them directly from the Insolvency Service Estates Accounts and Scanning Department by emailing CustomerServices.EAS@insolvency.gov.uk.
PRML Update 15 March 2023
The Joint Liquidators of PRML have published their tenth annual progress report which covers the period 16 January 2022 to 15 January 2023. A link to the report can be found below.
Joint liquidators tenth annual progress report for the year ended 15 January 2023
PRML Update 26 January 2023
The fourth and final distribution from Petroplus Refining & Marketing Ltd was paid on 2 November 2022. If you have any issues regarding your distribution please contact uk_creditorservices@pwc.com before 31 March 2023. Any requests for reissuing the payment after this date may not be processed.
Ahead of the dissolution of the company any unbanked cheques will be transferred to the Insolvency Service Unclaimed Dividends Account.
PRML update 15 March 2022
The Joint Liquidators of PRML have published their ninth annual progress report which covers the period 16 January 2021 to 15 January 2022. A link to the report can be found below.
A letter providing the password required to access this report was posted to all known creditors of PRML on 7 March 2021.
Joint liquidators ninth annual progress report for the year ended 15 January 2022
Change of Liquidator - PRML
Timothy Andrew Higgins replaced Toby Scott Underwood as joint liquidator effective from 30 November 2021.
PRML update 15 March 2021
The Joint Liquidators of PRML have published their eighth annual progress report which covers the period 16 January 2020 to 15 January 2021. A link to the report can be found below.
A letter providing the password required to access this report was posted to all known creditors of PRML on 4 March 2021.
Joint liquidators eighth annual progress report for the year ended 15 January 2021
PRTL update 2 February 2021
The joint liquidators of PRTL have published their combined eighth annual progress report which covers the period 21 January 2020 to 20 January 2021 and final account to the period 21 January to closure. This report also includes the Notice of Liquidators' Final Account before Dissolution.
A notice providing the password required to access this report was posted to all known creditors of PRTL on 2 February 2021.
PRML update 12 March 2020
The Joint Liquidators of PRML have published their seventh annual progress report which covers the period 16 January 2019 to 15 January 2020. A link to the report can be found below.
Joint liquidators seventh annual progress report for the year ended 15 January 2020
A letter providing the password required to access this report was posted to all known creditors of PRML on 3 March 2020.
PRTL update 19 January 2020
The Joint Liquidators of PRTL have published their seventh annual progress report which covers the period 21 January 2019 to 20 January 2020. A link to the report can be found below.
Joint liquidators seventh annual progress report for the year ended 20 January 2020
PRTL update 19 January 2019
The Joint Liquidators of PRTL have published their sixth annual progress report which covers the period 21 January 2018 to 20 January 2019. A link to the report can be found below.
Joint liquidators sixth annual progress report for the year ended 20 January 2019
PRML update 12 March 2019
The Joint Liquidators of PRML have published their sixth annual progress report which covers the period 16 January 2018 to 15 January 2019. A link to the report can be found below.
PRML Liquidators' annual report
A letter providing the password required to access this report was posted to all known creditors of PRML on 8 March 2019.
PRTL update on distribution in respect of statutory interest to all agreed creditors
In our letter to all agreed creditors dated 16 November 2018, we stated that we intended to declare a payment in respect of statutory interest to admitted creditors of the Company by 28 February 2019. We have not yet received tax clearance from HM Revenue and Customs (“HMRC”) and have been advised that such clearance is unlikely to be obtained before the end of March.
In addition, we have requested HMRC refund some £260,000 to the Company. This comprises of tax paid, which we consider should be subject to offset by losses carried back from the following year, and from a payment made to cover any tax incurred on foreign exchange gains. We are currently waiting HMRC’s response and whether the refund will be forthcoming in whole or part. This refund, if received, will form part of the funds available for distribution to creditors.
We are unable to declare the distribution until both HMRC's position on the tax refund is clear and tax clearance has been given. If these are received prior to the end of March, we would expect to pay the statutory interest distribution in April 2019, but a delay in obtaining these will lead to a further delay in paying the distribution.
PRTL update 20 March 2018
The Joint Liquidators of PRTL have published their fifth annual progress report which covers the period 21 January 2017 to 20 January 2018. A link to the report can be found below.
Joint liquidators' fifth annual progress report for the year ended 20 January 2018
PRML update 7 March 2018
The Joint Liquidators of PRML have published their fifith annual progress report which covers the period 16 January 2017 to 15 January 2018. A link to the report can be found below.
PRML Liquidators' annual report
A letter providing the password required to access this report was posted to all known creditors of PRML on 5 March 2018.
PRTL update 20 March 2017
The Joint Liquidators of PRTL have published their fourth annual progress report which covers the period 21 January 2016 to 20 January 2017. A link to the report can be found below.
Joint liquidators' fourth annual progress report for the year ended 20 January 2017
PRML update 13 March 2017
The Joint Liquidators of PRML have published their fourth annual progress report which covers the period 16 January 2016 to 15 January 2017. A link to the report can be found below.
PRML Liquidators' annual report
A letter providing the password required to access this report was posted to all known creditors of PRML on 10 March 2017.
PRTL update 18 March 2016
The Joint Liquidators of PRTL have published their third annual progress report which covers the period 21 January 2016 to 20 January 2016. A link to the report can be found below:
Joint Liquidators' third annual progress report for the year ended 20 January 2016
A letter providing the password required to access this report was posted to all known creditors of PRTL on 18 March 2016.
PRML update 15 March 2016
The Joint Liquidators of PRML have published their third annual progress report which covers the period 16 January 2015 to 15 January 2016. A link to the report can be found below.
PRML Liquidators' annual report
A letter providing the password required to access this report was posted to all known creditors of PRML on 14 March 2016.
PRTL Update 20 March 2015
The Joint Liquidators of PRTL have published their second annual progress report which covers the period 21 January 2014 to 20 January 2015. A link to the report can be found below.
PRTL Liquidators' annual report
A letter providing the password required to access this report was posted to all known creditors of PRTL on 20 March 2015.
PRML update 13 March 2015
The Joint Liquidators of PRML have published their second annual progress report, which covers the period 16 January 2014 to 15 January 2015. A link to the report can be found below.
PRML Liquidators' progress report for the year ended 15 January 2015
A letter providing the password required to access this report was posted to all known creditors of PRML on 12 March 2015.
Update 19 March 2014
The Joint Liquidators of PRTL have published their first annual progress report which covers the period 21 January 2013 to 20 January 2014. A link to the report can be found below.
PRTL Liquidators' annual report
A letter providing the password required to access this report was posted to all known creditors of PRTL on 18 March 2014.
Update 14 March 2014
The Joint Liquidators of PRML have published their first annual progress report which covers the period 16 January 2013 to 15 January 2014. A link to the report can be found below.
PRML Liquidators' annual report
A letter providing the password required to access this report was posted to all known creditors of PRML on 13 March 2014.
Update 29 July 2013
Interim Progress Report
A report has been prepared by the Joint Liquidators of PRML as an interim report to update existing creditors on the progress of the Liquidation. There is no statutory obligation to provide this report and it has not been prepared with a view to meeting all of the requirements of a progress report set out in the Insolvency Act and Rules 1986.
A letter providing the password required to access this report was posted to all known creditors of PRML on 29 July 2013.
PRML Liquidators' interim report
Other relevant information:
A creditors' guide to liquidators fees
Following the appointment of the Joint Administrators the Petroplus Refining (Coryton) Pension Scheme (“the Scheme”) was transferred to the Pension Protection Fund (“PPF”). The PPF exists to protect the benefits of pension scheme members where there is an insolvency.
If you were a member of the Scheme you can contact the PPF regarding the status and details of your pension through:
PPF Member Services
Pension Protection Fund
PO Box 254
Wymondham
NR18 8DN
Email: ppfmembers@ppf.co.uk
Telephone: 0330 123 2222
Website: https://www.ppf.co.uk/
The Joint Administrators' final progress reports were published on 31 January 2013 and 6 February 2013 for PRML and PRTL, respectively and can be found here together with information published in respect of the Administrations.
David James Kelly and Timothy Andrew Higgins have been appointed as Joint Liquidators of both Petroplus Refining & Marketing Limited and Petroplus Refining Teesside Limited they are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales. The Joint Liquidators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics.
The Joint Liquidators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Liquidators. Personal data will be kept secure and processed only for matters relating to the Joint Liquidators’ appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Liquidators.
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