administrator-- anyone with experience

[motoplast]

Bugger you will find that if a Administrator is caled in they take control and ownership of all stock on hand pluss all assets and money ,there for there main aim is to sell of everything they can then start paying the bills wich you are one of these .
But the crap thing about it is the Tax man is first in line folowed by banks and your somewhere down the bottom As it was the sum of 10k i would defently seek legal advise

So to answer your first post the stock is no longer yours,the comany owes you money and you will receive if any left

Administrators are absolute R-soles, I worked for a mob that went into administration. They are appointed by the courts, so they can't do nothing wrong! They get paid first (their fees are bloody ridiculous), then the tax man, then the banks then the creditors, by which time if ur lucky, maybe 20c in the dollar! which will probaly take 6 months or more to eventuate. Ur best bet, if possible, is to put an urgent stop on payment. Even staff get SFA, although I did hear that they were going to change the law to allow staff to be paid out first?! I know I lost around 12,000 in wages owed! Administrators=Pricks. Best of luck Ray.

Cheers,
Tex & Bundy