Deemed Consent
WELCOME FINANCIAL SERVICES LIMITED
Company Number: (00133540)
trading as Welcome Financial Services, Welcome Finance
Registered office: Mere Way, Ruddington Fields Business Park, Ruddington, Nottingham NG11 6NZ
Principal trading address: Mere Way, Ruddington Fields Business Park, Ruddington, Nottingham NG11 6NZ
On 9 July 2019 the High Court of Justice ordered and directed that pursuant to Rule 15.12 of the Insolvency (England and Wales) Rules 2016 (the ‘Rules’), the notice of the decision to be made by the Company’s creditors on nomination of a liquidator in the Company’s creditors’ voluntary liquidation be given by advertisement only (the ‘Order’).
NOTICE IS HEREBY GIVEN, in accordance with the Order and pursuant to section 246ZF of the Insolvency Act 1986 and Rule 6.14 of the Rules, that the deemed consent procedure is to be used to seek a decision from the creditors of the Company entitled to vote that:
1) Edward George Boyle (IP No. 9077) and Benjamin Maitland Leith (IP No. 20514) of KPMG LLP, 15 Canada Square, Canary Wharf, London, E14 5GL, and Sarah Megan Rayment (IP No. 9162) of BDO LLP, 55 Baker Street, London W1U 7EU, be appointed as Joint Liquidators of the Company for the purpose of winding up the Company’s affairs and distributing its assets;
2) any act to be done by the Joint Liquidators may be done by any one or more of the persons for the time being holding that office, and that such acts shall be carried out in accordance with the protocol entered into between the Joint Liquidators to be dated 16 December 2019; and
3) a liquidation committee be formed and certain creditors (creditors are invited to nominate specific creditors and their representatives) be appointed as members of the liquidation committee.
Date the resolution to wind up is to be considered: 16 December 2019.
Decision Date: 16 December 2019. A decision is to be treated as made at 23:59 on the Decision Date.
The Convener of the decision procedure is: Jonathan Briggs, a director of Welcome Financial Services Limited.
In order to object to the proposed decision, creditors must send notice to Jonathan Briggs at Welcome Financial Services Limited, Mere Way, Ruddington Fields Business Park, Ruddington, Nottingham NG11 6NZ, stating that they object, not later than the Decision Date, together with a proof of debt in respect of their claim in accordance with the Rules, otherwise the objection will be disregarded.
In order to request a physical meeting of creditors, a specified number of creditors entitled to vote must complete and return a physical meeting requisition form, together with a proof of debt form which are both available to download from the Company’s website at www.wfs.co.uk. The notice and proxy form must be received by Jonathan Briggs at Welcome Financial Services Limited, Mere Way, Ruddington Fields Business Park, Ruddington, Nottingham NG11 6NZ within five business days of this notice being advertised.
It is Jonathan Briggs’ responsibility to aggregate any objections and/or requests for a physical meeting of creditors to determine if the specified number of creditors is met for either an objection to the deemed consent procedure or a request for a physical meeting of creditors to be successfully made out respectively. If the threshold is met the deemed consent procedure will terminate without a decision being made and a decision will be sought again on the same matter by way of a physical meeting of creditors convened in accordance with the Rules.
Please note that:
- an objection will only be successful if it is made by at least 10% in value of the creditors entitled to vote, i.e., if less than the specified number of creditors object to the proposed decision, the creditors are to be treated as having made the proposed decision; and
- a physical meeting of creditors will only be convened if it is requested by at least (a) 10% in value, (b) 10% in number or (c) 10 creditors entitled to vote.
If none of these thresholds are met, the deemed consent procedure will continue as outlined above.
A creditor may, in accordance with Rule 15.35, appeal a decision, provided that appeal is made not later than 21 days after the Decision Date.
Nominations for membership of the creditors’ committee should be sent to Jonathan Briggs, at Welcome Financial Services Limited, Mere Way, Ruddington Fields Business Park, Ruddington, Nottingham NG11 6NZ, or by email to liquidation@wfs.co.uk by no later than 13 December 2019. Any such nomination will only be accepted to the extent that Jonathan Briggs is satisfied such nominated creditor is eligible to be a member of the liquidation committee, in accordance with Rules 6.19 and 17.4 of the Rules.
The directors’ statement of affairs will be available to download from the Company’s website at www.wfs.co.uk from 5 December 2019.
Alternative person to contact with enquiries about the case: Ray Levy, KPMG LLP, 15 Canada Square, London E14 5GL, wfsl@kpmg.co.uk