Bankrupt.......

Don't take this as the "word" but I imagine that a trustee in bankruptcy or insolvency practitioner will be appointed to tidy up the financial matters. What actually happens will probably depend on the situation as to whether it is an individual running it, a business, whether it has actually been run as a business. Hope you get an answer from someone who does know as opposed to someone having bit of a stab in the dark.
 
Happened on a yard we left. We went before it slid into the sea of bankruptcy, but the liveries which were left were given pretty much not a lot of notice. The owners were not a limited company and the bank wanted its money back, and fast. Was not sold as a going concern as had been going downhill for about 12 months and what business there was, was not much. Have to say as a business owner I would NEVER wish to see a business go under, but believe me, these livery yard owners deserved it big time, but that is another story.

I dont know what will happen to your yard, but I know I would be getting out, and fast.
 
This is probably obvious, but i would not leave anything of value at the yard whilst this is being resolved.

If its a business, an administrator will be appointed.
 
I would also make sure that any monies paid a reciept is recieved specifically stating what dates have been paid for. If it is a business that is declared bankcrupt and an administrator/reciever is appointed monies would be paid to them and not the individual who runs/owns/owned the business/yard

Robert
 
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