System 4 leisure ltd enters moratorium
System 4 Leisure Ltd has entered into a moratorium, a legal process in the UK insolvency framework. Steven Wiseglass is the appointed office holder.
Information for general guidance, drawn from the public record. Not legal, financial, or insolvency advice. If you are affected by an insolvency, consult a licensed practitioner or qualified solicitor.
The moratorium
System 4 Leisure Ltd entered into a moratorium on 11 March 2020. This process is governed by Schedule B1 of the Insolvency Act 1986. It provides a period for companies in financial difficulty to address their position. During this time, most creditor enforcement actions are paused unless the court gives permission for them to proceed.
Steven Wiseglass is the appointed office holder. He is a licensed insolvency practitioner who manages the company during these formal proceedings.
Company overview
System 4 Leisure Ltd was incorporated on 17 May 2018. The registered address for the business is The Trafford, 699 Chester Road, Manchester, M16 0GW. The company used SIC code 70229, which covers other business and domestic software consultancy and supply.
At the date of the moratorium notice, Natalie Anne Ogden was the sole director. She had held this position since 17 May 2018. The company has since been dissolved.
What this means for creditors and customers
When a moratorium begins, administrators send payment instructions and statutory notices to known creditors. Communications regarding the company are handled by the insolvency practitioner at their firm address.
Creditors who want to claim money owed by the company must submit a proof of debt form. This document provides evidence for the amount claimed.
The moratorium under Schedule B1 of the Insolvency Act 1986 stops most enforcement actions. Creditors cannot start or continue court proceedings without permission from the court.
Customers who paid for goods or services they did not receive, or those holding gift cards, are usually treated as unsecured creditors. Claims for employee wages, notice pay, and redundancy are managed through the administration. The Redundancy Payments Service can help employees with specific claims.
Common questions
Are you owed money by System 4 Leisure Limited?
You are an unsecured creditor unless you hold a registered charge or retention of title. The administrators will write to known creditors in due course with a proof-of-debt form and timetable for the first meeting. Until that letter arrives, no formal action is required from you. Read more about proof of debt and where you sit in the creditor hierarchy.
Did you work at System 4 Leisure Limited?
Wages owed up to a statutory cap, holiday pay, notice pay and redundancy may be claimable from the Redundancy Payments Service if the company is unable to pay. The administrators will normally coordinate the RP1 claim with the affected staff. See gov.uk: your rights if your employer is insolvent.
Do you hold a deposit, gift card or undelivered order from System 4 Leisure Limited?
Customers with paid-but-undelivered orders, gift cards or deposits typically rank as unsecured creditors. Where you paid by credit card and the amount was over £100, Section 75 of the Consumer Credit Act 1974 may let you claim from the card issuer for breach of contract or misrepresentation by the supplier; the rules apply per item, not per transaction, and the card must be a regulated credit card. Debit-card payments may be recoverable via chargeback.
Are you a director of a company connected to System 4 Leisure Limited?
Watch for Section 216 of the Insolvency Act 1986 if you intend to keep trading under a similar name in a successor company. The rule prohibits a director of a liquidated company from being involved in another company using the same or a similar name for five years, unless one of the statutory exceptions applies. Read more about Section 216.
Sources
- The London Gazette notice (code Moratoria, Prohibited Names and Other: Moratorium: Coming into Force)
- Companies House record 11368354
- Editorial standards: how we source and review; five-pass pipeline.
