Leeds-based haulier Centika Logistics, which collapsed earlier this year, is unlikely to be in a position to pay its trade creditors all of the £322,000 it is thought they might be owed, its administrator said.
The container and temperature-controlled transport firm entered administration in April, almost a decade after it first began trading.
CB Business Recovery took control of its affairs and it has been attempting to realise assets and realise book debts ever since.
The company’s standard international licence authorising 30 HGVs and 60 trailers running out of its operating centre on the Old Mill Business Park in Leeds has been surrendered to the office of the traffic commissioner.
In a report to creditors, administrator Trish Andrews said it had discovered there was an overdrawn director’s loan account in the sum of almost £326,000 and a request was made to the company director Jaroslaw Puzniak for repayment.
Further investigations in conjunction with the company’s accountant revealed that the balance had reduced to just under £216,000.
However, Andrews added: “The director had informed me that he is not in a position to make any such payment due to his current financial position, which also includes debts due to [finance companies] and Nucleus, to which he had provided personal guarantees.
“Mr Puzniak sought the advice of another insolvency practitioner regarding the possibility of proposing an individual voluntary arrangement (IVA) with his creditors.
“I can confirm that the IVA has been subsequently approved with an estimated dividend of £8.8p in the pound available to unsecured creditors within 12 months.”
