1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192 
Liquidated company's creditors will lose out
Page 6
If you've noticed an error in this article please click here to report it so we can fix it.
A report into the finances of a collapsed firm shows that creditors can only expect four pence for every pound owed. Bridget Carter reports.
A CREDITORS' report leaked to CM this week reveals the deeply troubled state of Weaver Pallet Express (Scotland), the firm that collapsed last month owing £2m.
Interim liquidator Brian Milne, of Deloitte. is investigating irregular transactions on the company's Visa card, a failure by the directors to declare assets, and links to newly formed company United Pallets (Scotland), which has replaced Weaver Pallet Express (Scotland) as a member of Business Post's UK Pallets network for the Glasgow area.
Up to 115 creditors, who are owed £536,694, met in Glasgow on 6 July to be told by Milne that the most they would receive from the collapsed company would be four pence for every pound owed.
More irritating for some creditors is the news that Vosa granted United Pallets (Scotland) a permanent licence on 22 June to operate 20 vehicles and 10 trailers.
Milne says Weaver staff became involved in United Pallets (Scot land): "This company was incorporated shortly prior to the liquidation of [Weaver] and I understand is carrying on the same business. Alan Booth,former operations manager of the company, is [a director]."
Milne says he understands that Jenkins is the sole shareholder in United Pallets (Scotland).
Weaver Pallet Express (Scotland) went into liquidation on 8 May after NYK Logistics presented a winding-up petition for an unpaid bill of more than £32,793.
Milne is also trying to recover two shrink-wrap machines he believes have been taken by United Pallets (Scotland) and has served a court order to that effect.
The company, which joined UK Pallets six years ago, had been grappling with f5(0.(X)0 in unpaid bills to HM Revenue and Customs and key contract losses. Its most recent results, for the year ending March 2004, show losses of f 1.1m.
UK Pallets has continued to keep on United Pallets (Scotland) as a network member.
A UK Pallets spokesman says it has not yet removed United Pallets (Scotland) from the network. Alan Booth, director of United Pallets (Scotland), declined to corriment.