Alternative Energy Technology Limited – in creditors’ voluntary liquidation
We are pleased to report that in the above creditors’ voluntary liquidation we have recently made a distribution to unsecured creditors in excess of 34p in the £.
The Company was founded to utilise planned legislation offering incentives for the uptake of renewable energy technologies. Due to a change in legislation in 2011 there was a severe curtailing of the solar PV incentive tariff scheme offered by the government and a delay in the release of the domestic heating incentive scheme.
This factor decreased the number of customers willing to proceed with this technology thus, along with other factors, resulted in the Company entering into creditors’ voluntary liquidation. However, we are pleased to report that we were able to exceed the anticipated asset recoveries resulting in a financially beneficial outcome and return to unsecured creditors.