What is an administration?
An administration is an insolvency procedure regulated by the Insolvency Act 1986. The Joint Administrators’ role is to realise the assets and distribute them for the benefit of creditors.
The administration will last for an initial period of 12 months but may be extended.
The Joint Administrators will provide regular updates to creditors.
Who are the Joint Administrators?
Chris Laverty, Trevor O’Sullivan and Andrew Charters were appointed as Joint Administrators of S.D. Taylor Limited trading as Loans at Home on 15 March 2022.
The Joint Administrators are qualified insolvency practitioners, regulated by the Insolvency Practitioners Association.
The Joint Administrators act independently of the Company and the directors for the benefit of all creditors and stakeholders. Their primary concern and mandate is to ensure that they maximise the returns to creditors.
I am owed money by S.D. Taylor Limited trading as Loans at Home. When will I receive what I am owed?
After your claim has been assessed, you may be an unsecured creditor of the Company and may be entitled to a distribution once all assets have been sold or realised.
Distributions to creditors are made in the following order. The costs of realising assets will be paid first. Any amounts owing to secured creditors are then settled, followed by employee claims and unsecured claims (such as providers of goods and services and affordability claims). If, after paying the costs and amounts due to the secured creditors, there are insufficient funds to pay remaining claims, creditors may not receive a distribution.
The Joint Administrators will be writing to all known creditors of the Company shortly after the appointment which will include log-in details to the Grant Thornton UK LLP Insolvency Act Portal which will enable you to log your claim. If you do not receive a letter, please write to us at LAH.firstname.lastname@example.org.
What should I do if I have any information about LAH?
We would be pleased to receive from any stakeholder any useful information concerning LAH, its dealings or conduct which may assist us.
What can I do if my question has not been answered in this FAQ section?
We will continue to update the FAQs during the administration. If your question has not been answered in this FAQ section and you are a Loans at Home customer, please contact your local field agent, visit our website www.loansathome.co.uk or contact the Customer Relationship Centre on 0800 011 4490.
If you are a supplier and have further questions, please contact us at LAH.email@example.com.
Please be aware that we are expecting a large volume of queries and you may therefore not receive an immediate response.