Haulier faces losing his house
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• Insolvent haulier Richard Clark and his wife Susan face losing their house, but are urging creditors not to make them bankrupt.
The partnership, based at Tenterden, Kent, has ceased trading and its eight tippers have been returned to leasing companies, Garry Hacker, manager at insolvency practice Moores Rowland said last week. Unsecured creditors are likely to get more than half of what they are due after the house is sold. "It is early days yet, but it seems as if they did the honourable thing, they stopped trading when it became clear they wouldn't be able to pay their debts," says Hacker.
"The Clarks will lose everything, but if creditors accept a voluntary arrangement, at least they won't he declared bankrupt," he adds. Redundancy payments will be made by the Department of Employment.
The affairs of the partnership, Richard Clark Transport, are clearly separated from the couple's limited liability company of the same name, which has also ceased trading, Hacker says. The receiver was unavailable for comment.