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P 'NSOLVENCY

21st October 2010, Page 10
21st October 2010
Page 10
Page 10, 21st October 2010 — P 'NSOLVENCY
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Keywords : Asset

Highland's asset sell-off examined

JOINT RECEIVERS of civil engineering and haulage firm Highland Quality construction are investigating the sell-off of a "considerable number" of its assets in the months preceding their appointment.

Blair Nimmo and Neil Armour of KPMG say Highland's fixed-asset position -bore little resemblance to those figures stated in the last management accounts as at January 2010" when they were appointed in June.

They say it remains unclear whether appropriate payments were made to Highland by the purchasers of the assets and that investigations are underway to establish their legal ownership.

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People: Neil Armour, Blair Nimmo