Insights, News 16.6.22

Raleigh International Trust placed into liquidation, CBW appointed as liquidators

Insights, News 16.06.2022

On 16th June 2022, Raleigh International Trust (“the Charity”) entered Creditors’ Voluntary Liquidation with Joseph Colley and John Dickinson of Carter Backer Winter LLP being appointed as joint liquidators.

The Charity, based in London, had engaged young volunteers from around the world, placing over 55,000 young people from over 100 countries in its programmes and working with communities, NGOs and Governments to create positive change.

Joseph Colley, a Corporate Recovery and Insolvency Partner at Carter Backer Winter LLP, said: “Unfortunately, the Charity has suffered from the impact of the Covid-19 pandemic and associated overseas travel restrictions. Its fundraising abilities – individual as well as corporate donations – have also been negatively impacted by recent events in Ukraine and the current cost-of-living crisis. This has all proved to be too heavy a burden for the Charity to bear.”

“We are currently in the process of realising any assets we can, including those located abroad, to provide the best return for creditors.”

The liquidators are aware that there are some 530 volunteers whose trips have been cancelled, most of whom have raised money through charitable platforms or through direct contributions, or a combination of both. Unfortunately, the legal status of these claims is complex and the liquidators are taking advice on how they should be treated and whether or not any refunds can or will be made. This may require an application to court prior to any resolution.

The joint liquidators will also assist the Charity’s former staff by helping them to register claims to the Redundancy Payments Office and access support services, where necessary.