if a company is PLC and it owes me lots of money and it is going under what chance do i have of getting it?

Answer 1

Going under or gone under? If the company is still trading but hasn't paid your invoice on time your only option is to get a lawyer and ask them to enforce the debt. If you have a contract that process should be reasonably simple, under UK law you can also charge your legal costs to the company involved.

If the company involved has already been made bankrupt the position is more complicated. In the UK when a PLC goes into bankruptcy the Court will appoint an Administrator to handle its affairs. These are often one of the big accountancy firms, Grant Thornton is also a big player. Part of the job of the Administrator is to contact everyone who is owed money, but if you call the company involved they should be able to give you a name and phone number.

Your chances of getting your money back depend on why you are owed the debt and how much cash the company has left in the bank. In the UK debtors are ranked, so that banks get paid out before suppliers and suppliers get paid out before shareholders. If there isn't enough money available to pay everyone the Administrator will propose a compromise. That might be that they pay you 60p out of every £1 you are owed and you agree to drop the rest of the debt. A court has to approve the deal as fair to all parties, technically you can challenge the deal to try to get better terms but normally this is not a good idea. Any court challenge can go on for months, and during that time the Administrator is being paid out of assets that would otherwise be coming your way.

So if you have an enforcable debt you are likely to get some money back, but probably not everything you're owed.

Answer 2

Don't think there is much you can do...if they go under into liquidation then you could deal with the company that is liquidating the people that owe you money.

If it had been a private company (ltd) then you could have taken the company director or owner to court, as they are directly responsible for the actions of the company.

Due to it being a Plc this isn't normally possible. Public limited companies have shareholders that typically control what happens. But because they don't actually own or run the business they cannot be held accountable for any debt. They just lose the money they have invested.

Answer 3

different country have different rules. Which country uses PLC,

other forms are:
Co. LTD.
Corp.
LLC
SA
GMBH

Answer 4

don't now