Must I pay receiver?

A company we owe some monies to has recently gone into receivership. Upon checking their invoices I realised that this company had been fleecing us. I am hesitant to pay the outstanding money based on this fact and I know that, had the company survived, I would not be paying the inflated charges.

Can anyone advise me what the norm is when a receiver comes in? Can we bargain and do a deal in a similar manner? After a brief discussion with the receiver he has shown no inclination in accepting anything less than the full amount. Will receiver take us to court or accept a reduced amount to clear the bill?
Thanks for all comments
Cork

corkman101 said:

A company we owe some monies to has recently gone into receivership. Upon checking their invoices I realised that this company had been fleecing us. I am hesitant to pay the outstanding money based on this fact and I know that, had the company survived, I would not be paying the inflated charges.

Can anyone advise me what the norm is when a receiver comes in? Can we bargain and do a deal in a similar manner? After a brief discussion with the receiver he has shown no inclination in accepting anything less than the full amount. Will receiver take us to court or accept a reduced amount to clear the bill?
Thanks for all comments
Cork

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Hello Corkman,

I would write to the company you were dealing with and explain your grievance. You will need to create a record and give the company and the receiver an opportunity to review and come back to you.

Ultimately, if you are sure of your grounds for querying the invoices, it is less likely that court action will be taken if it is clear you will defend your position. I would also make an offer of settlement, based on what you think the invoices should be.

I would be fairly certain that, unless what you are offering is totally unrealistic and involves a large amount of money, a receiver (or anybody for that matter) would want to incurr the costs of a court case. Just bear in mind, the more money a receiver has to lay out to collect the debt, the less money there will be for the creditors.

Regards,
Rudolf289

Usually the receiver comes in and takes charge of the asset the secured creditor has a charge on and disposes of it. He then pays the secured creditor. he has no other role to fulfill.

Maybe you mean liquidator or examiner?

Thanks
No, it is a receiver. He is selling off the assets and collecting the outstanding debts.
I've written with my queries but they are currently refusing to negotiate, which surprises me.
I'll see how it pans out

They must have a charge on the book debts aswell then.

Why didn't you raise this issue before now? You usually have 7/14 days to raise any queries you have with invoices otherwise it is assumed you have no problem with them. Have a relook at the invoices and the small print at the bottom for clarification of your terms of sale.

On the basis of this, the receiver will not communicate whatsoever with you. He is not there to negotiate, just to collect debts on which he was appointed to collect cash for.

You should approach the company and they could issue a credit note. This will adjust the balance on which the receiver can collect.

I wouldn't let this sit, the receiver has means to make you pay what the balance o/s is. Costs will be paid for by the appointee so he will chase to the bitter end. Otherwise he wouldn't be doing his job.

If any one has any opinions on my situation i would be grateful my landlords has gone into receivership, the receiver is putting severe pressure on me to vacate the premises because we hadnt signed off On d final bit of the lease. Im more than willing to stay in the premises and pay a reasonable rent and even more key money ( receiver said previous payment to original landlord is null and void) all the equipment that makes it a buisness as opposed 2 an empty building belongs to me. Reciever will not negotiate with me only wants me out, does anyone think that I should approach the bank that the reciever is working for? To see if they would negotiate directly ????

merod8 said:

If any one has any opinions on my situation i would be grateful my landlords has gone into receivership, the receiver is putting severe pressure on me to vacate the premises because we hadnt signed off On d final bit of the lease. Im more than willing to stay in the premises and pay a reasonable rent and even more key money ( receiver said previous payment to original landlord is null and void) all the equipment that makes it a buisness as opposed 2 an empty building belongs to me. Reciever will not negotiate with me only wants me out, does anyone think that I should approach the bank that the reciever is working for? To see if they would negotiate directly ????

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Cant hurt to approach the bank, they probably wont deal directly but the could provide guidance to the receiver

A receiver has taken over a quarry that i owe money too. I am not disputing that i owe them money. We always paid in time up to date.
I am paying off an smaller amount every month,will the reciver be happy with this until my balance is paid.
The reason being that any new supplier we deal with either wants money up front or the bare 30 days credit.

corkman101 said:

Thanks
No, it is a receiver. He is selling off the assets and collecting the outstanding debts.
I've written with my queries but they are currently refusing to negotiate, which surprises me.
I'll see how it pans out

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Corkman.

It is not negotiation you are into.
Simply the business of fairly sorting invoices.

On any business there are invoice queries .
From what you state {fleeced} is not a good reason.
However if you meant you were overcharged for work done over and above what was agreed on that work,you are entitled to deduct that from amount claimed by receiver.
If receiver wishes he can go legal route.

Remember he is now looking for your money, let him prove it.