WT Davies payout delayed by claims
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• Creditors of insolvent Cardiff haulier WT Davies will have to wait longer for payment because half-a-dozen drivers submitted their diesel expense claims in gallons instead of pounds.
A spokesman for receiver Deloitte & Touche says the claims are for up to £1,800 each. "It's logged on time sheets and expense sheets," he says, "but I'm having to write back saying 'put it in sterling'," The drivers stand to get 20p in the pound.
"WT Davies (Transport)'s creditors are owed £365,000," the spokesman says. "But there are inter-company debts too, of £1m-£2m." Deloitte believes those balances—a consequence of WT Davies (Transport) being only one arm of combined plant hire and construction group WT Davies Group—will take some time to sort out.
There was a creditors' meeting on 13 May but WT Davies sold off many of its assets two months ago and paid off its 20 or so staff before it was declared insolvent.
1=1 Langley Mill-based parcels carrier Beacon Transport is expected to go into liquidation today (29 May) when creditors hear details of its assets.
Beacon carried parcels for at least two parcels delivery firms.