All former staff who worked at collapsed Northern Ireland steel haulier Donnelly Transport should be paid in full, according to its administrator.
Unsecured creditors are also anticipated to receive a dividend, although it may only be 0.5p in the pound.
Insolvency practitioner RSM is currently attempting to realise assets and property that belonged to the Scarva-based steel haulier, which was went into administration in September 2018.
At the time, all 26 employees were made redundant and in their latest report to creditors, Stephen Armstrong and Jeremy Woodside said they are estimated to be owed £28,763, although the amount is still subject to change.
Read more
- Bad debts led to a bad end for Donnelly Transport, according to administrator
- Donnelly Transport placed into administration with the loss of 27 jobs
- Nicholson’s Transport ceases trading after being placed into administration
However, they added: “Taking into consideration the estimated level of net property, I anticipate that there will be a dividend of 100 pence in the pound to the preferential creditors in this case.”
Unsecured creditors, including firms that carried out work on Donnelly Transport’s behalf, are thought to be owed more than £820,000.
The administrators said there could be “a small dividend” for this class of creditor: “I would currently estimate that a dividend will be available to the unsecured creditors of 0.5 pence in the pound,” the report added.
Donnelly Transport had a licence authorising up to 17 HGVs out of three depots in Armagh, Antrim and Craigavon.
The administrators previously said its administration was brought about by significant historical debts and increased operational costs.
