Crown Currency Exchange – latest update from the Joint Liquidators

Crown Currency Exchange Limited

Crown Holdings (London) Limited

(Both in Liquidation) ("the Companies")

Updated: 3 May 2013 


Please click here for the Joint Liquidators' update to creditors (28 October 2011)

Please click here for the Joint Liquidators update to creditors (6 December 2011)

Please click here for the Joint Liquidators update to creditors (7 December 2011)

Please click here for the Joint Liquidators update to creditors (8 December 2011)

Please click here for the Joint Liquidators update to creditors (28 December 2011)

Please click here for the Court Order (28 December 2011) 

Please click here for the Joint Liquidators update to  creditors (22 February 2012)

Please click here for the Joint Liquidators update to creditors (23 April 2012)

Please click here for the Joint Liquidators update to creditors (25 May 2012)

Please click here for the Joint Liquidators' update to creditors (8 January 2013)

Please click here for the Joint Liquidators' update to creditors (22 February 2013)

 Please click here for the Joint Liquidators' update to creditors (30 April 2013)

 Please click here for the Joint Liquidators' notification to Creditors of a Vacancy on the Liquidation Committee (3 May 2013)

Important Information regarding the outcome of the second directions hearing held on 11 October 2011

 Please click here for details of the outcome of the second directions hearing held on 11 October 2011

 Please click here for The Trust Application FAQs (25 August 2011)

The Order

The Trust Application - Crown Holdings (London) LTD

The Trust Application - Crown Currency Exchange LTD

Witness Statement - Mathew Bond

Witness Statement - Mathew Bond Exhibit "MPB3" (1)

Witness Statement - Mathew Bond Exhibit "MPB3" (2)

Witness Satement - Oliver Jonathan Gayle

Witness Satement - Oliver Jonathan Gayle Exhibit "OJG1"

Creditors' Voluntary Liquidation

Paul Clark and Matt Bond, of MCR, together with Harold Sorsky and Stella Davis of SPW (UK) LLP, were appointed as Joint Liquidators of the Companies on 31 March 2011. Paul Clark and Matt Bond are licensed by the Insolvency Practitioners Association, and Harold Sorsky and Stella Davis are licensed by the ACCA.

Please click here for the Joint Administrators' Final Report which includes the Notice of Move to Creditors' Voluntary Liquidation from Administration.

Please click here for FAQs.

Please click here for additional FAQs (29 July 2011)

ADMINISTRATION

Paul Clark and Matt Bond, of MCR, together with Harold Sorksy and Stella Davis of SPW (UK) LLP were appointed Joint Administrators ("Administrators") of the Companies on 4 October 2010. Paul Clark and Matt Bond are licensed by the Insolvency Practitioners' Association, and Harold Sorsky and Stella Davis are licensed by the ACCA.

The affairs, business and property of the Companies are being managed by the Administrators, who act as agents of the Companies and without personal liability. The role of the Administrators is to deal with the business and assets of the insolvent estates.

Please click here for the Joint Administrators' Report to Creditors and Statement of Proposals. Should you have any queries call 0844 826 8659.

Please click here for a proxy form and the creditors' guide to completing a proxy form.

Please click here for the Statement of Insolvency Practice 15 for England and Wales which provides further information on the formation and role of a creditors committee in an Administration.

Please click here for the Notice of Appointment Document.

Please click here for the Joint Administrators' initial letter to creditors.

Please click here for the notice of result of meeting of creditors for CCE

Please click here for the notice of result of meeting of creditors for CHL

Please click here for a document outlining some frequently asked questions for all customers updated 31/01/2011. (Please click here for the frequently asked questions as of 29/10/2010.)(Please click here for the frequently asked questions as of 15/10/2010.)

CURRENT STATUS

The Companies operations are suspended whilst the Administrators assess the position.

REPORTS TO CREDITORS

The website will be updated as and when information for creditors becomes available. In accordance with an order by the High Court dated 11 October 2010, the Joint Administrators have been granted relief not to send, by post, the notice of the appointment of Joint Administrators and also not to send by post; their Reports to Creditors (including Progress Reports), their Statement of Proposals (including any amended proposals), notice to creditors of the result of creditors' meeting convened to consider the Statement of Proposals and minutes of any meetings of creditors held throughout the duration of the administration to all known creditors.  However, a copy of each of these documents will be available for viewing and downloading at the appropriate times on this website. The Joint Administrators Statement of Proposals will be available on or before 26 November 2010.

Please click here for a copy of the Court Order.

If you require copies of any of the documents referred to above, please write to either MCR or SPW(UK) LLP's offices at the following addresses.

MCR
43 - 45 Portman Square
London
W1H 6LY

SPW (UK) LLP
Gable House
London
239 Regents Park Road
London, N3 3LF

CUSTOMER HELPLINE

Customers may wish to contact the dedicated helpline on 0844 826 8659 and the helpline staff will deal with your queries as far as possible. Please be advised that the information provided by the helpline staff will be in accordance with the Joint Administrators understanding of the current position.

Should you have any queries, please email crowncurrencyexchange@mcr.uk.com and the Administrators endeavour to respond to your query as soon as practicable.  Please note that the Administrators understand that there are in excess of 13,000 customers and an immediate response will not be possible.

PROOF OF DEBT FORMS

Please click here for the Proof of Debt Form so that you can register your claim against the Companies. (Please note that the proof of debt form has been revised. If you have previously completed a different form, your claim will not be affected and you do not need to resubmit a proof of debt form.)  If you are returning your signed Proof of Debt form by email, please send to crowncurrencyexchange@mcr.uk.com and mark in the Subject Content "Proof of Debt".

Please be advised that the Joint Administrators have received a large volume of proof of debt forms. The forms are currently being recorded by the Joint Administrators and customers should receive a confirmation email that their claim has been lodged within two weeks of them sending the form.

For details of the Crown Currency action group please visit http://crowncurrencyactiongroup.org.uk

Crown Currency Exchange Limited

Crown Holdings (London) Limited

The Joint Liquidators

http://crowncurrencyactiongroup.org.uk