Accountancy firm PKF Francis Clark are calling on the creditors of Hamilton Coach Holidays to come forward. David Hamilton who traded as Hamilton Coach Holidays, 4 Trinity Street, St Austell, was made bankrupt on 21 September 2017. Stephen Hobson and Lucinda Coleman of PKF Francis Clark were appointed Joint Trustees on 2 October 2017.
Hamilton Coach Holidays was a luxury coach holiday operator and there are believed to be creditors, many whom are elderly or retired who have booked coach holidays, paid the deposit, or full sum, and had their holidays cancelled. Many of these were long term customers of Hamilton Coach Holidays.
What can creditors do?
Creditors can call the PKF Francis Clark Business Recovery Team on our Freephone number 0800 832 1875. Leaving a clear message stating your name, and address including postcode and we will write back with a ‘Proof of Debt’ form within around 2 weeks.
Creditors can email email@example.com with their name and address and we can email back a ‘Proof of Debt’ form.
Creditors can write to us at Vantage Point, Woodwater Park, Pynes Hill, Exeter EX2 5FD and we will send a Proof of Debt form to them.
Creditors are also advised to check to see if they have independent travel insurance. However, insurance companies will still insist that creditors claim in the bankruptcy and may not pay out until that creditor has received a dividend.
Is there any chance creditors will get their money back?
The nature of bankruptcies means that creditors are paid from a bankrupt’s assets, after costs. The value of bankruptcy assets are invariably smaller than the amount of creditors, therefore, creditors can only expect a dividend of so much pence in the pound on their claim. That amount is not yet known as the full extent of creditors is not yet known.
How long will it take?
The main asset in this bankruptcy is a property in St Austell which has been on the market and is now in the process of being sold, subject to contract. When it is sold then there will be funds to pay creditors. However, there are other delaying factors in that the Trustees would need to give more time for creditors to come forward. In addition, the Trustees are investigating whether Mr Hamilton has property abroad and what happened to funds of the business. Therefore, it could be a matter of months before creditors are paid.
Stephen Hobson, Business Recovery Partner said:
“We are asking all creditors to please come forward. Mr Hamilton has not disclosed to the Official Receiver or ourselves as Trustees who these creditors are, even though he is obliged to do so and despite requests. Trading records and computers are also not available.
“Cornwall Trading Standards are also investigating as there should have been some come back for customers under package holiday regulations. We have placed notices in the local media and at the premises which has had some success, but the only way we are to know about a creditor is if they contact us at the earliest opportunity.”