Administrators going into yard

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thatsmygirl

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How would this work? Anybody any experiences? Couldn't take my horses could they? I'm livery there. I know if this was a normal business locks would be changed but they can't do that on a yard with loads of horses so any experiences would be great.
 
Good , well not good really but at least I wouldn't turn up to empty stables. I'm really worried as there is nowhere local I could move to with my horses as iv got a few. We are short on yards round my way and the ones we have are full. And doubt I could sell anything in this market, tbh most are worthless money wise so would prob be better of PTS but to me they are worth their weight in gold so must find somewhere even if its a field as its coming the right side of winter.
 
True. I'd keep receipts, passports, chip information, vaccination cards.. Just about anything that links horse information and you handy.
 
Take your tack, rugs and anything else that belongs to you home as yes they will take it and you have to fight to get it back, as this happened to a friend of mine they took her tack and she had to provide receipts that she had actually bought them.
 
They can't count any asset that isn't owned, rented or leased by the person or business which is being reviewed.
Administrators are called in to work out the persons or business net worth not to remove anything.
The worst that could happen is the administrator could close the business with immediate effect but you should still have access to your horses but any money would go through the administrators as they deal with that persons creditors.
As long as they don't owe you money then you personally won be affected apart from the fact you might need to find somewhere ASAP.
 
I might be tempted to take all your belongings home and that would include feed / hay you've 'paid' for as part of your livery deal. That avoids any debate. I assume it's a DIY yard as if there isn't enough cash to pay staff they may well decide not to come to work!
The land/ buildings will have a sensible ongoing value and administrators will just sell it - then you'll be in the same position as any person on livery when a yard is sold - fingers crossed whoever buys it wants to run a livery yard (not a private yard) and is nice/ sensible
 
Yes it's a DIY yard. I wouldn't have receipts for any of my tack etc so yes maybe I had better fill my Cupboards up. Passports no problem. I feel so sorry for all involved as its their home as well and tbh Iv have great times in the place and seems like it could be the end of a era ( spelling) v v sad.
 
A yard near me went bust last year. The liveries were all given notice to leave which they did. The place has been empty since Sept and there's no for sale sign up yet. Are you hoping the new owners will keep you on? May be worth moving them sooner rather than later if you can find space elsewhere.
 
Dee O'Dorant said:
But the onus may be on you to prove that anything there does actually belong to you and not to the debtor.
Click to expand...

That is not correct.

When a business goes into administration, there is a company assigned to run the company until it is either dissolved, (is that spelt right) or sold as a going concern.

The adminstratiors cannot sell or liquidate any items that do not belong to the indebted company or individual.
 
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