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Just a heads up for those who are already making claims against Alpha.....

Legal advice I have received is that the winding up action is like cutting off Alpha's head before the existing claimants have a completed claim... i.e. Once they're wound up, you cant use the claim you started to get anything out of Alpha and any money youve spent in making the claim against them is wasted. 

Instead, you would have to join the winding up action and hopefully get your tiny % of the total recovered by the liquidator, which will be sod all because it's all been spent on development/running costs. If you've already got  a completed/successful claim against Alpha, the liquidator will probably include you but you still wont get legal costs or interest back.

Seeing as Alpha seem intent to continue running the company, it seems foolhardy to wind them up now and get back very little.

In short, this winding up action is screwing up the chances for anyone who's making a claim... Including me..Thanks!

Speak to any solicitors firm that's not involved in the winding up and ask them (they won't be biased because they're not earning money from your business)! It'll only take a few minutes of your time !

Now that I think about it, you raise a good point -- having the judgment forces Alpha to cough up the amount so judged, whereas the winding-up petition distributes a percentage of what's actually realized from the company's assets. The only difference being that the winding-up petition forces it to happen, whereas Alpha can ignore a judgment to a certain extent. I'll get back with Small Claims Solicitors (the company I'm working with) to see what they say about it.

Jake, can we get a health check on the petition? I think Joe might be on to something here.

E: Not to mention which, Jake, you still haven't responded to my email w/r/t putting down the value in USD so that we don't get screwed on the exchange rate. Both SCS and Fieldfisher say it can be done.

Well that's really crappy... I want my  money back and I have spent a fortune in this shit... I hope the liquidation doesn't come too early. Could you guys please wait a bit with the wind up?

...and to top it all off, winding up a company is typcially quicker than making a claim against them in court .

So, yeah, we're really screwed now.

And to think.....I was really looking forward to getting my money back with 8% interest (IIRC). FFS

so now theres no point in filing a claim since this winding up is going to happen first? i'm i just wasting my money?


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