An insolvency practitioner with offices in Edinburgh, Glasgow and Aberdeen is aiming to better the prospects for unsecured creditors when a company goes into liquidation by offering a hi-tech solution it believes is a first in the sector.
Claire Middlebrook of Middlebrooks Business Recovery & Advice said this type of creditor deserves a “fairer crack of the whip” to get funds returned, and she aims to put an end to the case when some would decide to not pursue the matter as they thought they would not receive anything.
She said: “These are people who an insolvency can affect the most, because if they have an extended line of credit to someone that goes bust it sometimes has serious impact on them as well.”
Middlebrook set up her own business recovery company in 2015 after more than ten years in the insolvency profession.
In what she says is a first in the industry, the business is to open a special portal on its website, enabling creditors to send in their claims electronically, amid new insolvency legislation allowing documents to be submitted in this way.
“This way we make it easier for people to interact with us and exchange information quickly without waiting days for a reply,” Middlebrook said.
The firm will also use social media, creating hash tags during a large insolvency allowing people to direct message the firm’s team with questions.
Middlebrook said: “For years at insolvency conferences we have talked about encouraging unsecured creditors to engage more with the process. I am moving in the direction of correcting that.”