Staff and creditors of collapsed fleet hire firm now likely to get pay out


The administrator for contract hire and rental firm Axis Fleet Management said it now looked likely both former staff and trade creditors will receive some of their money back. This reversal in fortune follows a report from FRP Advisory Trading that came out last year and which warned that preferential and unsecured creditors probably wouldn’t be paid. But in its latest summary, FRP administrator Miles Needham said preferential creditors’ claims, which relate to staff arrears of pay, unpaid pension contributions […]