Willenhall bearings maker AlphaDrive exits moratorium with BCRS charges outstanding

The moratorium authorisation for AlphaDrive Engineering Services Limited, a Willenhall manufacturer of bearings, gears and driving elements, was signed off on 9 April 2020. The notice appeared in the Gazette on 16 April 2020.

A moratorium under the Insolvency Act 1986 is a temporary legal pause that shields a company from most creditor enforcement action while its position is assessed. When that period ends, the protection lapses and the company's next steps become clearer. Rescue is not automatic.

Andrew Fender of Sanderlings LLP, holding IP number 6898, is listed as office holder on the notice. The company's registered address at the time was Springvale Street, Willenhall, WV13 1EJ. Companies House now records it as Sanderlings, Becketts Farm, Alcester Road, Birmingham, B47 6AJ.

AlphaDrive Engineering Services was incorporated on 2 July 2010. Its sole active director at the time of the moratorium was Anthony Mark Chisholm, who has held the managing director role since 31 March 2015. Earlier directors included Penelope Anne Chisholm, who served from 28 February 2013 until 31 March 2015, Philip Peter Hall, who resigned on 20 January 2016, and Kurt Luke Wainwright, who resigned on 28 February 2013.

Secured creditors

Three secured charges were outstanding when the moratorium ended. Two were held by vehicles connected to the Black Country Reinvestment Society: BCRS CIEF Limited and BCRS MEIF GP Limited, both registering their charges on 18 November 2019 and delivering them to Companies House on 5 December 2019. The third charge was held by Advantedge Commercial Finance Limited, created on 2 October 2019 and delivered on 7 October 2019. All three are classified as registered charges and remained outstanding on the record. A secured creditor is one whose debt is backed by a charge over the company's assets, ranking ahead of unsecured creditors in any distribution.

What happened next

AlphaDrive Engineering Services has since entered liquidation. Its last filed accounts, made up to 31 July 2020, were prepared on a micro-entity basis, indicating a small operation by balance sheet measure. The CPA insolvency list records the company among entries dated 16 August 2023, suggesting the liquidation process was progressing at that point.

For creditors and suppliers

Once a company moves from a moratorium into a formal insolvency process such as liquidation, creditors' claims are handled by the appointed officeholder. Known creditors receive statutory communications in due course, with correspondence conducted through the firm and contact address on record.

A proof of debt is the formal claim form a creditor submits to evidence the amount owed. It is a standard step by which the officeholder establishes total liability before distributing available assets.

Trade suppliers and others without security over the company's assets rank as unsecured creditors. They are paid from whatever remains after secured creditors and the costs of the insolvency process have been met. Employees with unpaid wages, notice pay or redundancy entitlements may be eligible to claim through the Redundancy Payments Service, which meets certain statutory payments where an employer is insolvent.