Speedferries notice to all creditors

Continuing the situation after SpeedFerries (in Administration) stopped operating, I received an email from the administrators today:

NOTICE TO ALL CREDITORS

Speedferries Limited (In Administration) (‘the Company’)

On 12 November 2008 the Company entered administration and T Burton and I were appointed as Joint Administrators. The appointment was made by the Company's Directors under the provisions of paragraph 22(2) of Schedule B1 to the Insolvency Act 1986. Please find attached at the end of this email, the formal Notice of Appointment of the Joint Administrators.

A copy of the Notice of Appointment of the Joint Administrators is also available to download from the Company’s website: www.speedferries.com.

Immediately following appointment, the Joint Administrators, in accordance with Paragraph 3 of Schedule B1 to the Insolvency Act 1986, explored the option of a sale of the business and assets of the Company. Unfortunately, the offers that were received as part of this process were insufficient to provide the best outcome to all creditors, and as such the Joint Administrators regretfully announced the closure of the business on 25 November 2008.

As such, Speedferries Limited (In Administration) has now ceased to operate services between Dover and Boulogne and customers with pre-booked tickets are advised to seek alternative travel arrangements.

Customers who have booked by way of credit card should contact their credit card providers to determine if they are eligible to claim a refund for these now cancelled services. Some debit card services may also offer a refund so it may also be appropriate for customers to confirm with their banks if this option is available. Customers are further advised to check the Company’s website as there is a link to a section 'Credit Card Information' where further information regarding contacting your credit card provider and documents your credit card provider may request of you is available. Please note we are currently sourcing customer bookings/reservations data from the Company's external reservations database managers. This data is not yet however available for provision directly to the credit card providers for all customers.

Customers who wish to obtain a refund in respect of cancelled crossings and pre-booked tickets (and for which the option of claiming against their debit card or credit card provider is not available), are advised that, due to the administration, refunds in respect of these tickets are not able to be met, and that you now rank as unsecured creditors of the administration. We will continue to log your claims as unsecured creditors.

The officers of the Company are required to submit a Statement of Affairs, but as yet we are not in a position to give any information regarding the financial position. We shall send you a report as soon as it is reasonably practicable which will explain the objectives of the administration and give details of the financial position of the Company. This report will also provide an update on the prospects of a dividend to unsecured creditors.

If you have commenced formal recovery proceedings against the Company, I suggest that you contact my office before continuing, as a matter of priority, as no legal processes may continue against the Company without my consent or permission of the court. Please refer your query to Rob Apollo at the following email address: xxxx@uk.ey.com.

If you contend that you have any form of security or reservation of title in respect of goods that you previously supplied, please contact my office immediately and provide full written details and copies of documentation relating to your claim. Email queries should be referred to Simon Cooper at the following email address: xxxx@uk.ey.com.

Yours faithfully
for Speedferries Limited (in administration)

Angela Swarbrick and Tom Burton
Joint Administrators

I've already lodged a claim with my credit card company for the remaining unused tickets on my last block purchase of SpeedFerries tickets. The person I spoke to had heard of SpeedFerries failure and said that they'd had another claim a few days beforehand. I was advised that the card company would send me a claim form, still waiting for it to arrive, and the process after that seemed a bit hazy as to when I would get a refund of my ticket purchase. Will let you know.