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Phones 4U Debtor EE Targeted By Administrator |
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#1 |
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Forum Member
Join Date: Apr 2002
Posts: 455
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Phones 4U Debtor EE Targeted By Administrator
Interesting
Administrators to Phones 4U, the high street retailer which collapsed last year, are inching towards launching legal action against third party debtors including the UK's biggest mobile phone group. Sky News has learnt that PricewaterhouseCoopers (PwC) has issued a series of so-called "letters before action', setting out the obligations of debtors to repay money owed to a company prior to its collapse. Sources familiar with the matter said that EE, the mobile phone network, was among the parties to have been contacted by PwC in relation to an undisclosed financial liability. http://news.sky.com/story/1488456/ph...-administrator |
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#2 |
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Forum Member
Join Date: Mar 2001
Location: North West
Posts: 4,884
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So a now ceased company, appointed administrators are after money apparently owed?
Pfft like that is gonna fly |
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#3 |
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Forum Member
Join Date: Sep 2003
Location: Leics
Posts: 581
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So phones4u loses its obligation to honour its own debts but can still chase people that owe it money? does that seem screwed up to anyone else?
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#4 |
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Forum Member
Join Date: May 2002
Location: Crystal Palace TX
Posts: 19,702
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I believe this is a common tactic after a company goes into administration. It rarely succeeds though. These "letters before action" are speculative letters which are essentially a fishing exercise.
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