As previously advised, the directors of the Company appointed Michael Solomons and Andrew Pear of BM Advisory LLP as Joint Administrators on 23 November 2015, pursuant to the Insolvency Act 1986.
Further to the Administrators’ second progress report (which is available to download below), creditors approved to extend the Administration for a further 12 months, to 22 November 2017. This is so the Administrators can finalise their investigations such that they can properly consider the potential legal options available to the Company, which may result in further recoveries for the benefit of the creditors. Notice of the extension is available to download at the bottom of this statement. Hard copies of our reports are available on request.
Please note that the personal details provided by ticketholders when booking tickets online is subject to the Data Protection Act 1998. Therefore, the Administrators have not been able to obtain this information from the ticketing agency in order to write to all ticketholders individually. On 8 February 2016, the High Court of Justice ordered that the Joint Administrators may deliver notices and progress reports to creditors by making them available for viewing and downloading via the Company’s website. A copy of the sealed Orders is available to download below.
FREQUENTLY ASKED QUESTIONS
How do I lodge a claim in the Administration?
The amount owed to a ticketholder of a cancelled session will rank as an unsecured claim in the Administration. If you believe you are a creditor in the Administration please lodge a claim (if not already done so) using the proof of debt form which is available to download from this website. The completed form should be emailed to the Administrators at OktoberFestukltd@bm-advisory.com or posted to OktoberFest Ltd – In Administration, C/o BM Advisory, 82 St John Street, London EC1M 4JN.
If you have already submitted a proof of debt form, the Administrators’ records have been updated accordingly and a record of your claim is on file in the event a distribution is available to creditors.
How long will it take to get my money back?
It is not possible to advise at this stage on the timing and quantum of any distribution available to unsecured creditors. The Administrators must firstly realise the assets of the Company to determine if there are available funds to distribute, as well as collate details of all unsecured creditors and the amounts they are owed.
Should you require assistance that is not dealt with in this statement the Administrators have established a dedicated email address (OktoberFestukltd@bm-advisory.com) to accept queries. Due to the large volume of queries expected, the Administrators request that all queries are directed to the dedicated email address and a member of the Administrators’ team will respond accordingly.
Further information can also be found at www.creditorinsolvencyguide.co.uk which is designed to provide creditors with a step by step guide to the insolvency process.
Please note that partners and staff of BM Advisory LLP acting as Administrators, act as agents of the Company and contract without personal liability.