Liquidators of MG Rover supplier boost creditors’ returns above £40m
1,700 unsecured creditors, including former employees of defunct Birmingham manufacturer Powertrain, will share £5.2m in the latest payout.
Liquidators PwC said the latest payout, of 4.74p in the pound, brings the total return to Powertrain’s unsecured creditors to 39.74p.
£43.7m has now been returned over four dividend payment. The latest return is being shared by 1,700 unsecured creditors, including 1,200 former employees of the company.
The company, which had a major facility at Longbridge in Birmingham, went into admi... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...