The administrator for Tachodisc said it is not possible to provide an accurate estimate of when unsecured creditors are likely to receive the money they are owed.
In a progress report issued almost a year on from the company’s sale to FTA subsidiary TDUK, administrator BDO said it was also unable to determine how much money unsecured creditors, which submitted claims totalling £13.2m, would receive from the company.
The largest claim of £11.74m relates to the Tachodisc pension fund. There was also a claim totalling £1.25m in respect of a shareholders' loan.
The tachograph equipment and compliance software firm was bought for £200,000 by TDUK on the same day the administrator was appointed last April. It cited a drop in turnover due to difficult trading conditions and a pension fund deficit as the reasons for its collapse.
As of 28 March 2017, some £561,176.20 had been paid in administrator fees, tax, legal fees and cash returns to customers who had pre-paid for its services ahead of its administration.
