Petroplus Refining & Marketing Limited (in Liquidation) ("PRML") and Petroplus Refining Teesside Limited (in Liquidation) ("PRTL")

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.

Joint liquidators' combined eighth annual progress report from 21 January 2020 to 20 January 2021 and final account from 21 January 2021 to closure.

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

PRML claim form

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

PRML claim form

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

PRML Statement of claim form  

PRTL Statement of claim form 

 

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.

Link to administration page

 


Ian David Green and David James Kelly 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.

 

Contact us

Sandra Andrews

Senior Associate

Tel: 0113 289 4926

Vanessa Jennings

Manager

Tel: +44 (0) 113 289 4955

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