The home of a haulage director who agreed to buy back his Derby-based business after it went into administration may be under threat after outstanding payments were not received.
In a report from administrator Simon Gwinnutt, the business and assets of delivery firm BLDS were sold to director William Lilly, trading as BLDS (Euro), for £20,000 on 14 August 2013 - the day it entered administration.
However, six months on, £10,000 of the consideration remained outstanding and despite “repeated telephone calls and written correspondence”, Lilly had not responded.
A charging order was obtained by Gwinnutt against both the commercial and residential premises and he said the commercial premises had now been sold.
However, the report added: “The charging order remains in place against the commercial and residential premises. It is uncertain whether any monies will subsequently be realised from the residential property of William Lilly.”
Gwinnutt said he had received eight claims from unsecured creditors totalling £121,925, but that there was insufficient realisation of assets for a distribution to any class of creditor.
Gwinnutt did not respond to calls or emails and Commercialmotor.com was unable to contact Lilly.
