Flight Company liquidation

 

 

 

 

 

 

 

 

 

 

 

Journal: TWUK	Section:
Title:	Issue Date: 03/07/00
Author:	Page Number: 72
Copyright: Other

 

 

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Flight Company liquidation

THE FLIGHT Company’s liquidator PriceWaterhouseCoopers has admitted there is only £625,000 left to share out among the operators’ remaining creditors.

 

 

It revealed there were almost 100 creditors hoping toclaw back some money, including the Civil Aviation Authority, which paid out £5.8m to holidaymakers following the collapse of The Flight Company in 1996.

 

 

The CAA has already admitted it only expects to get back a fraction of this sum.

 

 

PriceWaterhouseCoopers’ fee will also come out of the £625,000.

 

 

The liquidator’s expenses will rise if the creditors ask it to investigate whether there is any money that has not been recovered since the collapse.