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Fox creditors

4th May 1985, Page 8
4th May 1985
Page 8
Page 8, 4th May 1985 — Fox creditors
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Which of the following most accurately describes the problem?

TWO LIQUIDATED Fox Freight clearing houses owed hauliers E245,667, creditors meeting in Glasgow have learnt.

The deficiency in assets available to ordinary creditors totalled £267,059, calculated after debts totalling £163,626 due from associate company Fox Freight (Irvine) had been written off.

The liquidator, from Spicer Watson of Glasgow, suggested that ordinary creditors write down their debts to a nominal amount.

Fox Freight (Glasgow) and Fox Freight Southern's lists of haulage creditors run to hundreds and includes many of Britain's best known firms, several of which are owed between £4,000 and £6,000.

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Locations: Glasgow

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