No cash for most of JDG's creditors
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• The John Dee Group, which went into receivership in January, owes creditors more than £20m and the vast majority of them will not get any money back, according to receiver Cork Gully.
Creditors heard about the group's debts at a meeting last week at Darlington.
Only 12 creditors were present to hear Cork Gully announce that an auction will be held next month to sell off JDG's remaining assets, which include up to 100 tractors and trailers. "Quite frankly we were surprised at the low attendance," says Cork Gully, "and even more suprised that those who came did not ask a single question," Cork Gully said that only preferential creditors, such as employees, will receive payment.
None of John Dee Southem's 550 creditors turned up for a meeting in London to question Andrew Cowie, JDG's former managing director, and Paul Addison, former company secretary. Cork Gully's London office was "surprised" at the absence of creditors but believes that many were satisfied with the report sent out beforehand.
As CM went to press creditors of John Dee Yorkshire were meeting in Leeds. One told CM that he expected the meeting to be JDG's former chairman John Davison has set up a new haulage company, Indexagent, with vehicles bought from Cork Gully.