It’s Official: Development House Limited is going down.

It’s official.

A meeting of creditors for Development House Ltd, a company whose person of significant control, according to Companies House is, David Pownceby, has been placed onto The Gazette.

The meeting as is made clear will take place on Friday 25 August. Of course, many of the 230 plus creditors may well be away as it is holiday season. 

This gives any creditor just three days to provide their proof of debt. The notice gives details of how to attend, or vote by proxy etc.

As we understand a liquidation committee can be formed if at least 3 creditors want to, and the committee can pose questions to the investigating liquidator’s, and approve liquidator’s fees for payment (or not) etc.

The aim in establishing a liquidation committee; which is regulated by the s141 of the Insolvency Act 1986, is to ensure creditors have a ‘voice’ during the liquidation process. Creditors of an insolvent company often feel ignored in these circumstances, and that they have little influence on the proceedings or outcome.

Forming a committee can address this issue, and help to ensure proper consideration is given to their interests and financial recompense. It brings increased transparency to a potentially complex situation, and its members can provide invaluable help to the liquidator by acting as a ‘sounding board’ for future decisions.

So if you are owed money by Development House Ltd, a company run and controlled by David Pownceby (pictured), according to Companies House, then it’s time to get your skates on and get your debt registered.

If you have been affected by the demise of Development House Ltd, please fee free to contact us. We never reveal our sources:

The Shepway Vox Team

Dissent is NOT a Crime

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4 Comments on It’s Official: Development House Limited is going down.

  1. The sad thing with this is that as usual the many creditors in the chain will get nothing whilst this pathetic excuse for a businessman who sits behind his desk smirking at all those he has conned will have squirrelled away most of the money and continue to live his lifestyle.
    Let’s hope he chokes on it .

  2. Will the big man and his bodyguards be there ?

  3. He doesn’t have the integrity to face his creditors face to face. He is a coward!!

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