Insolvent Building Company, no assets

[ClematisBlue49]

I'd appreciate any views on the following:

A building company which disappeared part-way through my renovation project leaving me significantly out of pocket is going into liquidation, however the company has no assets. It appears that there are debts owed to HMRC, banks among others; I am an unsecured creditor, along with several others.

It seems to me that there is no scope to get any money back, since there are no assets, meaning that any debts are likely to be written off. (The same people have set up a new company and are operating as normal under the new name, so I assume that any assets are now held under that company, and cannot be accessed by the creditors of the original firm.)

Am I therefore correct in my assumption that there is no point in pursuing the matter any further?

NB the letter from the Insolvency Practitioners did not arrive until after the deadline for any submissions of proof of debt. I will respond, but suspect they may use this as an excuse to disqualify me from being included on the creditors list in any case.

Thanks in advance...

The new company should have paid a fair price for any assets taken from the old company. If it did not, the liquidators should sort that out. But the reality is that you are unlikely to get anything back from the company. However, do make sure you point out to the liquidators that you did not receive their letter until after the deadline.

The one possible silver lining is that, if the works cost between £100 and £30,000 and you paid any part of the bill with a credit card, you can claim your money back from your credit card provider.

Thank you @prh47bridge , sadly it's a much bigger sum and not paid by credit card. I will see what the liquidators say, but am not hopeful, even if they do accept that I didn't receive the letter in time.