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Mattucci Limited: Statement by the Joint Administrators to Deposit Customers of the Company at 8 December 2009
Mattucci Limited – In Administration (‘the Company’)
Appointment & its Effect
On 4 December 2009 we P R Boyle and J C Sallabank Partners in the firm of Harrisons were appointed Joint Administrators of the Company by the High Court, Leeds District Registry.
The Company’s affairs, business and property are now being managed by us as Joint Administrators. The purpose of the administration is to realise property and achieve a better realisation than if the Company were placed into liquidation.
Joint Administrators act as agents of the Company and without personal liability.
Sale of the Business & Customer Deposits
The business and assets of the Company have been sold and are subject to the terms of a sale and purchase agreement (‘SPA’). The purchaser of the business of the Company is: -
Sapphire Furnishing Corporation Limited (‘Sapphire’)
Eagle Way
Stourbridge Lane
Northfleet
Kent
As part of the SPA Sapphire has confirmed its intention to honour all deposits (including full payments) and outstanding orders previously placed with the Company.
Sapphire will write or telephone you directly in respect of your individual order shortly. A full list of all customers, orders and deposits has been given to Sapphire. They will discuss with you the timing of your delivery.
We would ask for customers to again be patient since there are significant numbers of orders for Sapphire to address. They have confirmed that they will contact all customers as soon as is possible.
Please not that no deliveries will be made by Sapphire until all goods are paid for in full. We have respectfully reminded Sapphire that all funds should be held in trust until goods are delivered.
The SPA includes all tangible and in tangible assets which were owned by the Company.
Contacting the Administrators
All customers who have made deposits and who have not already done so are invited to send to us their details to the following address. This should include your Name, Address, Order Number, value of your deposit and a copy of your order if possible. We will ensure that these details are recorded in our records and passed to Sapphire.
Mattucci Limited – In Administration
Harrisons
4 St Giles Court
Southampton Street
Reading
RG1 2QL
Customers and creditors will appreciate that we are receiving a significant number of telephone enquiries. Due to the volumes of calls we are unable to address individual matters or queries in respect of your outstanding orders or warranty issues. Please do not telephone our offices.
Trade Creditors & Warranty Claims
Please note Sapphires obligation will extend only to customers with outstanding orders and who have made deposits or full payment for goods. Trade creditors and customers with warranty claims will remain the responsibility of the Company and any such claims will be dealt with as unsecured creditors in the proceedings. Details of sums outstanding in this respect should be sent to our office as detailed earlier.
Further Updates & Information
We will write to deposit customers, warranty customers and trade creditors whose details have been passed to us by the Company or those who have written to us with details of sums due by the Company as soon as is possible.
We will provide a further update on this website if there are any changes. Sapphire has also been advised to provide updated information on the Company’s website.
Legal Requirements of Administration Proceedings relevant to Creditors
Under the provisions of the Schedule B1 of the Insolvency Act 1986 (‘IA86’) we are obliged to notify creditors as soon as is reasonably possible of appointment. These notices are in hand and at the same time we intend to meet the requirements of SIP 13 and 16.
Under Paragraph 49 of Schedule B1 and Rule 2.33 of the IA1986 we are obliged to make a statement of our proposals and effectively report on certain events pertaining to the proceedings to date. We would refer you to the IA for further information in this regard. This report is due to be circulated to creditors no later than 29 January 2010.
We as Administrators are not obliged to agree the claims of the unsecured creditors. Any claims submitted shall be held on our files and made available to any subsequent appointee. This will be expanded upon in our report pursuant to Paragraph 49.
for and on behalf of
Mattucci Limited
P R Boyle and J C Sallabank
Joint Administrators
8 December 2009
Fax: 0118 939 4409
Email: info@harrisons.uk.com
Mattucci Limited - In Administration ("the Company")
Updated: 8 December 2009
Frequently Asked Questions
Mattucci Limited - In Administration ("the Company")
Updated 7 January 2010
Who are the Administrators?
P R Boyle and J C Sallabank of Harrisons, 4 St, Giles Court, Southampton Street, Reading, Berkshire, RG1 2QL were appointed as Joint Administrators of Mattucci Limited on 4 December 2009.
What do the Administrators do upon appointment?
The affairs, business and property of the Company are being managed by the Joint Administrators, who act as agents of the Company and without personal liability. The role of the Administrator is to deal with the business and assets of the insolvent estate. Their role is not to replace the Directors of the Company nor are the Administrators accountable for the management of the business prior to their appointment.
What is happening with my order?
The business of the Company has been sold to Sapphire Furnishing Corporation Limited (‘Sapphire’).
Sapphire has confirmed its intention to honour all outstanding orders as at the date of Administration. This will include orders paid for in full and part paid orders. If you have not paid for your goods in full the balance will need to be paid by you to Sapphire before they proceed with delivery.
Since Sapphire has agreed to honour the deposits they will be entitled to collect the balance of any outstanding payments prior to delivery. However you may not seek a refund from them if you decide to cancel your order. You will rank in the Company’s proceedings as an unsecured creditor.
Who is the Purchaser of the Business of the Company?
Sapphire Furnishing Corporation Limited
Eagle Way
Stourbridge Lane
Northfleet
Kent
Tel: 01474 579937
When will I get my furniture?
Once the full sums have been paid and Sapphire holds your furniture in stock it shall make arrangements with you directly to deliver your furniture. We do not have sufficient information to be able to state the timing of deliveries in general.
The Directors' Statement of Affairs
In accordance with Paragraph 47 of Schedule B1 to the Insolvency Act 1986, the Administrators have requested that the directors provide them with a statement of the affairs of the Company. When available this will be circulated to creditors with the next statutory report.
Dividend prospects to Unsecured Creditors
Based on the current estimates we would advise that there is little likelihood of sufficient realisations becoming available for a distribution to be made to unsecured creditors.
Credit cards and Visa Payments
Based on Sapphires promise to honour all order, deposits and full payments we do not believe that it is appropriate for customers to initiate a charge-back of any sums paid via their credit card provider.
The Administrators are unable to provide customers with proof of non-delivery and no assistance can be provided in this regard. The Joint Administrators will be working with the Company's merchant service provider to ensure that any claims for charge-back have not or will not achieve a delivery of goods.
Cash, Cheque & Non Credit Card Payments
Since Sapphire has promised to honour all orders, deposits and full payments and make delivery of those goods we do not believe that any claims in respect of deposits made by customers will arise in the Administration proceedings.
Under the order of priority set out in the Insolvency Act 1986 there would ordinarily be no funds available for customers who paid a deposit or in full by cash, cheque or non-VISA debit card.
Customers seeking information on product warranties/guarantees
The Administrators are unable to facilitate repairs or replace items and therefore are unable to assist customers with faulty items. These claims are classed as unsecured claims against the Company. There will be no monies available to this class of creditor from the insolvent estate. The purchaser is not obliged to honour any warranty issues.
Damaged Goods
The Administrators are unable to arrange for any replacements in respect of damaged furniture. These claims are classed as unsecured claims against the Company. There will be no monies available to this class of creditor from the insolvent estate. The purchaser is not obliged to honour any warranty issues.
Proof of Debt Forms
Company records are not available to reproduce any documents that the Company previously produced, this includes the following: -
• Copies of Sales Invoices
• Copies of Orders
• VAT Invoices
• Remittance advices for fitters or trade suppliers
• Proof of payments made
• Proof of non-delivery
• Instruction Manuals
• Insurance Certificates
• Supplier information
Trade Suppliers
All debts owed to trade suppliers incurred prior to the Administrators appointment will be unsecured claims against the Company. There will be no monies available to this class of creditor from the insolvent estate.
Additional Information
Please note the Administrators are unable to provide customers, deposit customers, trade creditors or suppliers with any other information other than the information contained on this website update at this stage of the proceedings. We will update this website as and when appropriate.
The Administrators will not be responding individually to customers, deposit creditors or trade suppliers. Correspondence requesting a response will receive a copy of the latest website update only.
There is no further information available.
In Summary:
• Sapphire has indicated it will honour all deposits and will make delivery of your goods.
• The Company has no funds available for customers, suppliers or contractors who have suffered a financial loss as a result of its insolvency.
• The Company and the purchaser will not repair or replace faulty goods.
• There are no funds available to pay customers with a claim against the Company for faulty goods.
• The Company cannot fulfil requests for copy documentation.
• Product returns cannot be accepted.
• There is no requirement for creditors to submit proof of debt forms.
• The Administrators cannot respond individually to queries.
We do not anticipate any further updates in this matter.
for and on behalf of
Mattucci Limited
P R Boyle & J C Sallabank
7 January 2010