30 May 2017: BRI Business Recovery & Insolvency deal with members voluntary liquidations (solvent liquidation) where dividends are the “norm” for the Company’s shareholders, very often within a matter of weeks from appointment.
BRI also deal with creditors’ voluntary liquidations (insolvent liquidation). Northants Precision Grinding Limited (“NPG”) is one such insolvent liquidation and is being dealt with by our Northampton office.
NPG was a long established specialist precision grinding company and was incorporated in 1962. Asset realisations in this liquidation are greater than originally estimated with preferential creditors being paid in full in July 2016 and non-preferential creditors receiving a full and final dividend of 26 pence in the pound on 22 May 2017 with £47,000 distributed.