Halls may get compensation A NORFOLK haulage company could be
21st March 2013, Page 6
21st March 2013
Page 6
Page 6, 21st March 2013
— Halls may get compensation A NORFOLK haulage company could be
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in line to receive "substantial" compensation after it was mis-sold a financial product. Administrators for Great Yarmouth building supplies haulier Halls Group said they were seeking a sixmonth extension so that creditors' rights to any claims are protected while the matter is being investigated.
Nigel Millar and Graham Bushby at Baker Tilly Restructuring said the firm was sold an interest rate hedging product in 2008, and that "it appears the company falls within the scope of the [Financial Services Authority] settlement and therefore should be entitled to redress".
It could mark a turnaround for its creditors, who approved an Individual Voluntary Arrangement last year in which they would receive 34p in the pound by 2017.