Ferryways creditors face hefty losses

UNSECURED creditors of Ferryways (UK) Ltd, part of the Belgium-based Ferryways company which ran the former roll-on, roll-off freight ferry link between Ipswich and Ostend which closed two years ago, will receive only the smallest of payouts, it has been revealed.

UNSECURED creditors of Ferryways (UK) Ltd, part of the Belgium-based Ferryways company which ran the former roll-on, roll-off freight ferry link between Ipswich and Ostend which closed two years ago, will receive only the smallest of payouts, it has been revealed.

Liquidators PKF have told creditors that although a further �1,901 of debt has been realised, on top of the sum already collected, the remaining sums outstanding have been deemed unrecoverable.

Preferential claims from employees and the Redundancy Payments Fund totalling �29,803, in relation to arrears in wages and holiday pay, have been paid in full, but unsecured creditors - who had until June 1 this year to prove their claims - will receive a dividend of just 0.5p in the pound.

A creditors' meeting is to be held at the Ipswich offices of PKF, at 16 The Havens, Ransomes Europark, on September 10, at 10.15am.