Re-possession Advice

larryfinnegan

Im sure im not alone in this suitation .... I sold goods to acompany in the midlands who in turn have the same goods on contract hire with a well known multi-national. 18 months on and have only been paid for half the goods. The word on the street is that my customer.... all be that a very bad one... is going tits up, there is a appilication with the Revenus to wind them up. Can I simply re-possess the value or close to the value I'm out of pocket....

dermot_sheehan

First question is whether you have a retention of title clause over the property you sold asserting that title does not pass until they have paid for.

If you don't, you are an unsecured creditor. You rank with the other unsecured creditors in a liquidation.

larryfinnegan

Oh I have title to the goods alright ..... stated in big bold text at the bottom of all invoices ' The goods remain the property of the seller untill paid for in full'. I have had countless meeting swith the customer to resolve this issue ..... he swans about in a 100k + Range Rover and plays the poor mouth any time we meet. Its a piss off, I work 70-80 hrs a week for this kinda crap. Before the banks and revenue get inn I want what I'm owed.

dermot_sheehan

You should of course seek appropriate legal advice but if the company is put in liquidation write to the liquidator informing him that you retain title to several goods in possession of the liquidated company and that you seek to recover them.