| Journal: TWUK | Section: |
| Title: | Issue Date: 26/06/00 |
| Author: | Page Number: 80 |
| Copyright: Other |
CAA faces huge losses over The Flight Company collapse
THECIVILAviation Authority is only expecting to claw back a fraction of the £5.8m it paid out following the collapse of The Flight Company in 1996.The former operator’s principle creditor, Barclays Bank, has already got back all the money it was owed through the administrative receiver Deloitte Touche.
PriceWaterhouseCoopers, which was appointed liquidator at a creditors’ meeting last week, is now looking to share out any money left over between the creditors.
CAA head of licensing Helen Simpson said: “There are other unsecured creditors and there is absolutely no prospect of it all being recovered.”