Matthews creditors demand cash check
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• Creditors of the failed Brough, Humberside-based haulier Matthews European have expressed their anger at finding themselves out of pocket by up to 50% in the company's statement of affairs.
At the first meeting of creditors held by receivers Ernst & Young in Leeds, creditors also called for the company's affairs to be fully investigated on the appointment of a liquidator, which is expected within a couple of months.
One creditor says he is owed more than .£30,000 but less than half that amount is shown on the statement of affairs. Other creditors at the meeting also said their debts have been vastly understated and raised concerns about the affairs of Matthews European in the months preceding its receivership.
A spokesman for Ernst & Young says it is aware that some vehicles have been sold and that "some of this money is still unaccounted for". It is also aware of some assets that might be in the hands of director Ken Matthew's relatives.
Creditors were also disappointed that Ken Matthews was not at the meeting for them to put their grievances directly to him. They heard he was on holiday and under no obligation to appear in front of them until the full creditors' meeting under section 98 of the Insolvency Act.