No payout in Kildonan Transport crash
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• The joint receiver of Scottish independent haulier Kildonan Transport says the company is likely to show at least a Lim deficiency on its forthcoming statement of affairs.
About Lim is owed to the company, but it already has liabilities of some £2m and creditors' claims are still coming in, says joint receiver Tom MacLennan of Scott Oswald.
The receivers say Kildonan
Transport creditors will have no claim on the resources of Kildonan International Forwarding which was set up by the sons of Kildonan Transport's majority shareholder.
Last week Kildonan International Forwarding was granted a licence for 35 vehicles and 60 trailers: it will be run from Kildonan Transport's former site in Turriff.
MacLennan says unsecured
creditors of Kildonan Transport are very unlikely to see any of their money back: the largest sums owed by the company are to preferential creditors like banks and Government departments, he says.
Truck leasing firms are understood to be owed £40,000 by Kildonan Transport leased vehicles were re-possessed but then re-leased to Kildonan International Forwarding.
M Austria is likely to join the vignette taxation system that is to be operated by Germany, Denmark and the Benelux countries. Initially however, its terms of entry to the EU provide a two-year transition period for it to reduce its road user charge to the 21,000 level set by the European Commission. An EU agreement allows Austria to keep border controls on trucks until the end of 1996.