UPDATED: As part of part of our ongoing investigation into PledgeMusic and its recent insolvency filing, Hypebot contacted the UK government’s Insolvency Service to learn the procedures and deadlines for the artists, labels and fans owed money to file a claim, as well as exactly what PledgeMusic assets were available for sale.
As for assets, Insolvency Examiner Erica Baker replied:
“As you are no doubt aware, the winding up order was made on 31 July 2019 so it is early days in the liquidation. I do not have an asset list as such at this time. If you are interested in purchasing any assets, then I request that as a starting point you provide me with the detail of any assets you wish to purchase, along with an offer for such assets and a valuation to evidence that you are offering market value.”
On the subject of filing a claim for monies due, Baker wrote:
“If you are owed money by the company then you should arrange for a Proof of Debt form to be submitted as soon as possible – I will ask the case officer to send you a form.”
While lacking a firm deadline, the form is fairly straightforward. Any artist, label or fan affected should fill out the form and send it in with any receipts or proof asap. Download it here.
UPDATE: The form can be returned via email to Sultana.Begum@insolvency.gov.uk
We’d love to hear from artists and others their experiences with the Insolvency Service.