Global tasked to investigate major UK Green Energy Firm

Global Corporate Ltd has been retained by Lawrence King of Critchleys LLP, who is acting as the Liquidator of Ice Energy Heat Pumps Ltd (“Ice”).

Ice was, up until February this year, a major supplier and installer of Ground Source and Air Source Heat Pumps; together with solar panels and other green energy solutions. The multi-million pound turnover company, formed in 1994, had the exclusive UK distribution rights to IVT heat pump systems and equipment manufactured by a Bosch-group company.
Ice suffered from heavy losses over recent years, and following its’ major shareholder, SIG Group plc, pulling out in October 2014; the company declined at a rapid rate.

Despite winning several multi-million pound social housing contracts with landlords such as Enfield Borough Council and Queens Cross Housing Association; all of Ice’s staff were made redundant on 31st January 2017 and Lawrence King of Critchleys LLP was appointed as liquidator on 27th February 2017. Staff were given no advance notice of their redundancy.
As of the date of this article, unsecured creditor claims have been submitted with a value in excess of £5,200,000. Many of these creditors are individual homeowners who purchased 3 or 5 year service and maintenance contracts with Ice shortly prior to its’ demise.

Given our extensive experience of investigative insolvency work, Global Corporate Ltd has been selected by the Liquidator to assist him to investigate the assets, affairs and dealings of Ice; with a view to establishing exact causes of the failure of the company and, it is hoped, trying to recover monies for the benefit of the unsecured creditors.

As the investigation is continuing, and is likely to do so for a considerable period of time, we are unable to release any further or more specific details at this time. The Liquidator has completed a Sale & Purchase Agreement with Alto Energy Limited; who have acquired the customer base of Ice and so will be the first port of call for many of Ice’s former customers.

Any creditors who have not yet submitted a claim should contact the Liquidator directly by either calling 01865 261100, or by email to: insolvency@critchleys.co.uk.

Any person who wishes to give useful information to the investigative team should contact our office on 0845 094 2572, or complete the contact form on our website.

2018-08-08T16:15:48+00:00