Delay on Stone cash
20th December 1990, Page 7
20th December 1990
Page 7
Page 7, 20th December 1990
— Delay on Stone cash
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Keywords :
Insolvency, Bankruptcy, Corporations Law, Private Law, Business, Liquidation, Law, Liquidator
• Hauliers who are owed up to £400,000 following the crash of Stone Supplies (Stoke St Michael) last month (CM 8-14 November) are unlikely to get any money back for "several months", according to the liquidator Ernst & Young.
The delay has been caused by the large number of debts involved, with some hauliers owned up to £30,000 by the West Country operation, which hired them to deliver stone to customers. Ernst & Young's Cedric Clapp says: "I am confident a dividend will be paid eventually."
A liquidation committee of five creditors is meeting regularly and a creditors' meeting will be called next year.
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Cedric Clapp