Joules Limited – in Administration

Ryan Grant, Chris Pole and Will Wright were appointed Joint Administrators of Joules Limited – in Administration (the ‘Company’) on 16 November 2022.

Update to creditors  

The Joint Administrators have received some enquiries from creditors in relation to the Directors’ Statement of Affairs and specifically the Directors’ view of the potential deficiency to unsecured creditors.  In this regard, the information stated below has been issued to provide further clarity to the Directors’ Statement of Affairs.  

Within the Statement of Affairs, the value to carry forward to the preferential creditors should have been noted as £48m and not £22m.  Therefore, based on the Directors’ estimated to realise values and using the correct assumption, the estimated surplus to unsecured creditors per the Statement of Affairs would be c. £15m bringing the overall deficiency to unsecured creditor as per the Statement of Affairs to £88m.  Please note that the Statement of Affairs does not take into consideration the costs of the administration.  

As reported within our Proposals, based on current estimates, we anticipate that unsecured creditors should receive a dividend.  We have yet to determine the amount of this, but we will do so when we have completed the realisation of the Company’s residual assets (namely book debts and cash balances) and discharged all associated costs of the administration.  We will provide creditors with an update on the recovery process in our first 6-months’ progress report.

Statutory notices and reports

Proof of Debt 
Notice of appointment 
Creditors request for physical a meeting 
Creditor’s request to revoke opt out 
Creditor’s request to opt out 
Notice of Administrators' appointment - trading on 
Guide to submitting claim 
Notice of Administrators Proposals to creditors 
Notice of seeking decisions of creditors by correspondence 
Joint Administrators' Proposals 
Notice of creditors' decision on Administrators' Proposals 
Notice of seeking decision of creditors by correspondence 
Letter to creditors enclosing notice of a decision procedure 
First progress report 
Notice of extension of administrators' term of office 
Second Progress Report 

How to submit a claim

If you have amounts due to you from the Company as at the date of appointment, you can register a claim by completing a proof of debt form.

Please send your completed proof of debt form, together with supporting documentation, by email to the case contact or by post to:

Joules Limited – in Administration
C/o Interpath Advisory
5th Floor
130 St Vincent Street
Glasgow G2 5HF

Supporting documentation for your claim includes invoices, statements of account, proofs of delivery, contracts or any other relevant information.

Ryan Grant and Christopher Robert Pole and William James Wright are authorised to act as insolvency practitioners by the Institute of Chartered Accountants in England & Wales.

We are bound by the Insolvency Code of Ethics.

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