Moratorium ends for Mark and Colette Lineham's Kent partnership, Thoroughly Wood

Moratorium ends for Thoroughly Wood

The legal moratorium protecting Thoroughly Wood, the partnership of Mark and Colette Lineham, has finished. The business trades from Little Woodlands Farm in Lyminge, Kent. It operated under the protection provided by the Insolvency Act 1986.

This moratorium acted as a pause on creditor action. Now that it has concluded, creditors can pursue enforcement action against the partnership.

Thoroughly Wood designs bespoke wooden structures. Mark and Colette Lineham operated the partnership from Little Woodlands Farm, Woodlands Road, Lyminge, Kent, CT18 8DP.

The moratorium explained

A moratorium under Schedule B1 of the Insolvency Act 1986 usually starts when a company enters administration. It provides breathing space for directors or administrators to review the financial position. They use this time to look for rescue options or a managed wind down.

Creditors cannot start or continue court proceedings against the company during this period without permission from the court. This protection is a standard part of the administration process. It aims to give the business a chance to recover or to find a better outcome for creditors than an immediate liquidation.

Creditor claims and next steps

Because the moratorium has ended, creditors of Thoroughly Wood are free to use legal routes to recover debts. This may involve starting legal proceedings or other enforcement actions.

Creditors with formal claims against the partnership can submit a proof of debt. This form provides evidence of the amount the company owes. Insolvency practitioners manage the submission of claims and ongoing correspondence if they are appointed to the process.

If a company is wound down, customers who paid for goods or services that were never delivered are usually unsecured creditors. Their claims are considered with other unsecured debts after secured creditors receive payment.