Liquidator plan creditors' fund
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by Kathy Watson
• Operators could be asked to contribute to a fighting fund to claw back some of £423,000 pounds owed them by the collapsed North-East haulier Barnfather.
At least 500 hauliers are among the creditors caught out by Barnfather's collapse last October, after it was renamed Dragonville Distribution. Nearly 70% of the debts to hauliers were incurred in the two weeks before the company ceased trading, says liquidator Ernst & Young.
Operators may now be asked to team up in a bid to force former Barnfather directors to pay at least some of the company's £1.9m debts.
The insolvency firm says it wants to set up a fund because of the strength of evidence that Barnfather directors continued to trade while insolvent. Ernst & Young alleges Barnfather directors ran up debts of /120,000 to owner-drivers, even though its bank had already bounced cheques.
Also under the spotlight is the sale of Barnfather assets and goodwill, but not debts, to AAH Holdings--which employs a former Barnfather director. Ernst & Young is investigating whether Barnfather was knowingly sold for less than it was worth. AAH picked up some £9m worth of contracts a year, three sites and 80 trucks for a £500,000.
If it was proved in con Barnfather was undert, AAH the deal could aside, according to Er Young. And if the cool cluded that Barnfathe been trading while inst former directors Matthews, David Part and Tom and Barnfather could be helc for hauliers' debts. 01 unable to contact any four in the time ava Tony Black, managing tor of AAH Distribution "We believe we have pi and bought a compa someone was going to 1 to court and suggest in way we have not, deal would wish to contest."
Ernst & Young is no ing secured creditors i ing the Inland Revenue t their preferred status so small proportion of the already amassed can 1 into the pot. Liquidatoi only approach hauliers secured creditors throv weight behind the deal. Ii Hauliers owed by Barn include: Elmbeck Tran Essex, 119,500; Transport, Dundee Ll DR Bellerby, Northalle £14,000; MJ Ho: Transport, Maider £17,681: Bells Wareht and Haulage, Newark, £1 MJD & Sons, Crayf, £12,000; Siddal Tran Halifax, 18,542; PJ 1 Warley, West Midlands,
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