Payback for creditors of collapsed haulier
Asset sale exceeds expectations
Creditors of collapsed UK haulier EH Lee saw the prospect of a getting money they are owed improve, after the sale of the company’s assets.
The proceeds from the sale of a property in Lincoln for £875,000 (US$1.36 million) and the firm’s vehicles exceeded the agent’s valuation by around £100,000.
The company collapsed on 29 January, owing around £500,000.
Preferential creditors are now expected to be paid in full. However, there is no indication to date of the size of the distribution to unsecure creditors
The proceeds from the sale of a property in Lincoln for £875,000 (US$1.36 million) and the firm’s vehicles exceeded the agent’s valuation by around £100,000.
The company collapsed on 29 January, owing around £500,000.
Preferential creditors are now expected to be paid in full. However, there is no indication to date of the size of the distribution to unsecure creditors
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