Progress and Key Steps in Lykke Corp UK’s Liquidation
Track the steps towards Lykke Corp UK’s liquidation and recovery process.
Welcome to the progress page for the winding-up petition against Lykke Corp UK. Here, we outline the steps we are taking to address the company’s insolvency and provide regular updates on our progress.
1. Fundraising for Legal Actions
Status: COMPLETED
We successfully collected €7,500 from the community to initiate the insolvency proceedings. Thank you for your generous contributions.
2. Lawyer Engagement
Status: COMPLETED
We paid a deposit of £750 to engage a UK-based law firm specializing in insolvency cases.
3. Initial Case Review
Status: COMPLETED
The lawyer is currently conducting a detailed review of the case and relevant documents to determine the best course of action and ensure our legal approach is robust.
4. Statutory Demand Letter
Status: COMPLETED
The lawyer will draft and send a statutory demand letter to Lykke Corp UK, formally demanding payment of outstanding debts. Lykke will have one week to respond.
5. Winding-Up Petition
Status: ONGOING
If Lykke fails to respond to the statutory demand, the lawyer will prepare and submit a winding-up petition to the UK courts. This petition formally requests the court to declare Lykke insolvent.
6. Court Hearing
Next Step
A court hearing will be scheduled to review the petition. Our legal team will argue for the liquidation of Lykke Corp UK, highlighting the inability to meet creditor obligations.
7. Appointment of a Liquidator
Next Step
If the court approves the petition, an independent liquidator will be appointed. The liquidator will:
- Investigate Lykke’s financial activities.
- Facilitate the submission of claims from all creditors.
- Oversee the fair and equitable distribution of remaining assets.
Potential Risk
Please note that Lykke Corp UK may choose to file for voluntary bankruptcy before the winding-up petition is finalized. If this happens, the process will shift, but a liquidator will still be appointed, and creditors can submit their claims directly to them.
Stay Updated
We are committed to transparency throughout this process. Updates on each step will be shared here as milestones are reached.
Together, we are working to ensure justice and accountability. Thank you for your continued support.