Two searches here: what happens to certificates if the trader is insolvent, and what to do if the trader went into administration. The answer turns on where each certificate is sitting at the moment the trader fails. This is general information, not legal advice.
Step 1. Map your position
For every claim you have with the trader, find out which of these it is:
| Status | Where the value sits | Your position |
|---|---|---|
| Not yet lodged | With you | Hold it and place it elsewhere |
| Lodged, not registered | In the registry, pending | Ask whether the claim can be withdrawn or re-assigned |
| Registered, still in your account | In your account | Yours, move them to another trader |
| Transferred, paid | Settled | No claim, unless a recall applies |
| Transferred, not paid | With the trader | You are an unsecured creditor |
The last row is the painful one. The certificates have left, and the money has not arrived.
Step 2. Stop the exposure
- Stop lodging and transferring to the failed trader today.
- Do not accept a new assignment arrangement without advice.
- Pull a full list of unpaid claims, with amounts, RCTIs and dates.
Step 3. Contact the administrator
When a company enters voluntary administration or liquidation, an administrator or liquidator is appointed. Their details appear in ASIC notices and usually on the trader’s website. Contact them in writing, give your claim list and ask for the creditor process. You will normally be asked to lodge a proof of debt.
Step 4. Take advice
A solicitor with insolvency experience can tell you whether you hold any security, whether a retention-of-title argument exists in your contract and whether anything paid to you in the preceding months is at risk. Do not assume the answer without checking.
What happened with Greenbot
The former Greenbot platform was permanently suspended as a registered agent in 2024, and its clients moved mainly to Formbay and One Stop Warehouse. Installers who had claims in flight faced the situation above. Our page on what Greenbot’s collapse meant for customer STCs goes through it.
What this means for installers
Insolvency risk is a payment-terms problem in disguise. The longer a trader holds your money, the more you lose if it fails. Judge a trader on how fast it pays, how long it has traded and whether it is open about its terms. See how to check a trader is legitimate.
Energy Merchants is backed by REC Traders, trading since 2004. For how settlement works, see how it works, and if you need to move claims, the switch page shows how.