Trade creditors of collapsed tanker business will now get dividend

Trade creditors owed money following the collapse of Norfolk waste and tankering business Harveyson Haulage are now expected to receive a dividend.

The company entered administration in July 2018 and after a period of trading through its administration in order to preserve its goodwill, the haulier’s business and assets were sold to HH Tankering Services – which shares two of the same directors - for £52,000.

In a report to creditors, administrator Quantuma said payment had been received in full from the purchaser and its secured creditor Bibby had been repaid £336,648 from book debt collections.

Previously, Quantuma had warned that firms that provided services to the company were not anticipated to be repaid.

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• Harveyson Haulage sale saved jobs but will likely see unsecured creditors flounder

Its latest report said unsecured claims were estimated at £428,977 and added: “To date, 12 claims have been received from unsecured creditors totalling £518,586.

“A dividend to unsecured creditors is expected and this will be paid by the joint liquidators.

“Any dividend is, however, dependent on the joint administrators’ investigations into the revaluation of assets in the year ending 30 September 2017 and dividends drawn in the same period.”

HH Tankering Services now has an O-licence authorising the same number of vehicles – 15 HGVs – as Harveyson Haulage and operating out of the same base in East Harling.