Property Professionals + Limited
(In Administration)
Some Frequently Asked Questions & Answers
Q. MY NAME IS NOT ON THE LIST OF PORTFOLIOS AVAILABLE FOR COLLECTION?
The administrators will assess the position of portfolios which have not been located early next week and updates will be provided on the website. A further list of portfolios held at Tolworth has been added to the website today (22/02/2010) and will be available for collection on Friday 26 February 2010 between 9.30am and 3.00pm.
Q. WHAT WILL HAPPEN TO MY PORTFOLIO IF I CANNOT COLLECT IT?
All portfolios will be kept safe and secure, and the administrators will assess this position at the end of the week and provide updates accordingly. If you wish to have your portfolio posted/couriered to you please email administrator@hjsrecovery.co.uk confirming that you are prepared to cover the costs.
Q. I DON’T WISH TO CONTINUE WITH MY TRAINING CAN I GET A REFUND?
The Company is in administration because it does not have any funds. The administrator is trying to achieve a sale of the business as a going concern which would enable your training to continue. As a result, you would not be a creditor of the Company as you will receive the training you have paid for, albeit with a different provider.
Q. I HAVE DECIDED TO PURSUE MY TRAINING WITH AN ALTERNATE PROVIDER CAN I RECOVER MY MONEY PAID TO THE COMPANY?
If you have chosen to go elsewhere for your training you will incur further costs. In the event that the administrator is able to sell the business, your training would continue with the purchaser and therefore you would not be able to claim as an unsecured creditor of the Company.
Q. HOW LIKELY IS IT THAT A PURCHASER WILL BE FOUND?
The administrators are in discussions with several interested parties and are hopeful that a sale can be achieved. Any sale would be of benefit to all trainees, not just those that are financed with Barclays.
Q. HOW LONG WILL A SALE TAKE?
The administrators are trying to achieve a sale as a matter of urgency and are aware of the high importance in ensuring that the continuation of training is provided as expediently as possible. Any purchaser will be expected to act quickly to enable a sale to occur as soon as possible. However, time needs to be taken to ensure that the deal is in the best interests of all trainees. Our website will be updated as soon as further information is available.
Q. WHAT WILL HAPPEN IF YOU ARE UNABLE TO SELL THE BUSINESS?
If the administrators are unable to sell the business or facilitate a new training provider then you will have to decide whether to pursue your training elsewhere or to abandon it altogether. You will then become and unsecured creditor of the Company.
Q. I WISH TO CLAIM A REFUND FROM MY CREDIT CARD PROVIDER WHAT DO I NEED TO DO?
Under the terms of your finance agreement with your card provider you may be able to make a claim for monies paid on your card to the Company. We cannot advise you on this matter, and would suggest that you seek your own legal advice in this regard.
The administrators are not in a position to provide specific statements for credit card providers at this stage, as they are trying to achieve a sale of the business.
Q. I FUNDED MY TRAINING WITH BARCLAYS FINANCE WHAT CAN I DO?
You should contact Barclays directly in regards to this. If you have a dispute with Barclays regarding your contract with them then you will need to seek your own independent advice.
Q. WHEN WILL I RECEIVE MY CERTIFICATES?
The administrators will send on pass certificates to trainees as and when they are provided with them. There is not a list of certificates available at this stage.
Q. I WAS DUE TO SIT AN EXAM BUT NOW CANNOT AS THE COMPANY IS NOT TRADING.
It is hoped that a new training provider will be able to organise for the re-schedule of these exams, but currently all training and exams have been suspended.
Q. I PAID MY REGISTRATION AND EXAM FEE FOR ABBE TO THE COMPANY BUT THIS HAS NOT BEEN PAID TO ABBE.
You will be an unsecured creditor for this amount and will have to make payment to ABBE direct for your registration or exam fees. However, ABBE are aware of the administrators position and it is hoped that a concession may be agreed with regards to those payments already made.
Q. I WAS SUBJECT TO CERTAIN TIME LIMITS AND RESTRICTIONS AS PART OF MY TRAINING CONTRACT AND THIS DELAY IS STOPPING ME FROM COMPLETING IN TIME.
The administrators expect that a new purchaser will consider these time constraints favourably once a sale has been achieved.
Q. AS PART OF MY AGREEMENT WITH PROPERTY PROFESSIONALS I WAS CONTRACTED TO DO WORK FOR THE SISTER COMPANIES ONCE QUALIFIED, AM I STILL TIED INTO THIS CONTRACT?
Hip Hip Hooray.com Limited and Energy Assessor Panel Limited, the sister companies of Property Professionals + Limited are now also in administration and have ceased trading, and therefore cannot fulfil their obligations under this contract.
Q. WHO CAN I PURSUE PERSONALLY TO GET MY MONEY BACK?
You entered into a contract with a limited company and the directors therefore are not personally liable for the debts of the company.
Q. I AM CONCERNED ABOUT THE CONDUCT OF THE COMPANY AND THE DIRECTORS.
The administrators are aware of these concerns and they have a statutory duty to investigate the causes of failure of the company and the conduct of the directors. We will be complying with our statutory duties and reporting to the Department for Business, Innovation and Skills in due course.
Q. I AM A CREDITOR OF THE COMPANY WHAT HAPPENS NOW?
There are 2 classes of creditors in this instance:
Preferential – specifically in relation to the employee’s arrears of wages and holiday pay; and
Unsecured – all other creditors.
You will be given an opportunity to notify the administrators of your claim in writing in due course. They have a duty to treat all unsecured creditors exactly the same and cannot choose who they pay monies to.
If the Company is sold and the trainees are able to continue with the purchaser, this would significantly reduce the liability in respect of unsecured creditors. I am therefore unable to determine at this stage whether there will be sufficient funds available to enable a distribution to unsecured creditors.
Q. WILL THERE BE A CREDITORS MEETING
A meeting of creditors will be convened and further details in this regards will be circulated to all creditors shortly.
Q. CAN I PURCHASE COURSE TRAINING MATERIAL
If the administrators are unable to sell the business then any training materials held at the various premises will be available for purchase.
