Freight company liquidated
A COMPANY which operated freight services between the Channel Islands and the UK for nearly 80 years has been liquidated.
Huelin-Renouf, made up of separate Guernsey, Jersey and UK entities, collapsed in 2013 leaving 90 employees redundant and a large amount of cargo bound for Jersey businesses stranded in Southampton.
Following the penultimate liquidation hearing in Guernsey’s Royal Court, a total of £674,330 will be returned to creditors.
Final closure of the case is scheduled for Monday when commissioner Jurat Terry Ferbrache, will examine and verify the company’s financial statements, creditors’ claims and preferences, and review the joint liquidators’ final report.
The director of Grant Thornton Channel Islands, Jamie Toynton, whose company was appointed as liquidators, said that the process was now complete.
‘The courts of Guernsey and Jersey agreed with the liquidators that the assets and liabilities of the two companies should be consolidated under the Jersey company as they were effectively operating as one entity,’ he said.
He added: ‘A dividend of 8.13p per £1 of claim was paid to all unsecured creditors with a total amount of £674,330 being returned to creditors.
‘This included payment of employees’ unsecured claims. As the employee claims are for payment in respect of their earnings, deductions were made for social security and income tax, such deductions being paid to Jersey or Guernsey States departments according to where the employee worked.’
The final Guernsey Royal Court hearing is due to take place on Monday at 2.30 pm at the Royal Court House.
The final distribution of the company’s assets to unsecured creditors sanctioned by Jersey’s Royal Court on 1 September last year is also due to be reviewed during the hearing.