Customers who paid up-front to Emoov before it went into administration just over a year ago are likely to have handed over £1.5m.
The latest administrators’ report, posted on Companies House, says that to date 324 ‘unsecured’ claims have been received, totalling £2.82m, from trade creditors and customers who paid up-front.
HMRC has also submitted a claim for £447,823.
The report, from Alan Whalley and Sandra Mundy of James Cowper Kreston, also says that a total of £89,930 “referral” fees have now been collected, plus a total of £26,291 in respect of fees for property sales which completed either pre- or post-administration.
The administrators say: “We have continued to deal with a significant volume of calls and correspondence from the company’s former customers.”
Emoov, says the report, has one secured creditor, Northern & Shell Ventures, owed £2.5m.
Employees owed money, including those who went unpaid in November 2018 and until administration started on December 3, 2018, are classed as preferential creditors who can claim up to £800 each. They have been able to submit claims to the Redundancy Payments Service.
The RPS has paid out £373,843, but the administrators say they have not yet adjudicated on this claim.
According to Emoov’s company records, as at December 2018, when it went into administration, it owed unsecured creditors £14.6m.
Of this sum, £8.7m is described as an inter-company loan due to Tepilo Holdings. A further £3m is described as relating to non-bank loans from investors.
The period of administration is due to last until December this year.
Parts of the Emoov business were bought out of administration by Mashroom, which has since re-launched the online agent.