Leicester freight transport business AM Widdowson & Son has gone into administration. Insolvency practitioners at Leonard Curtis were appointed to the company on 6 July, shortly after it had undergone a change of name to Loglecdissol. The company had been subject to a CVA since July last year that meant it had to pay creditors 36p in the pound in a payment schedule stretching to 2020. The terms of the agreement included the supervisors immediately petitioning for its compulsory winding-up […]
The government has rejected calls from two select committees for an urgent change in insolvency law, after the collapse of City Link last Christmas left sub-contractors and non-secured creditors £30m out of pocket.
City Link’s administrator has revised up the amount it believes non-preferential creditors are owed by the collapsed parcel carrier. However, it said it is still waiting to hear from creditors that are owed a total of £12.8m that have not submitted a claim.