Unsecured creditors expected to receive small dividend from Waverley TBS

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Unsecured creditors of WaverleyTBS, the drinks wholesaler that collapsed last October, are expected to receive a dividend of up to 7.6p in the pound, a new report from its administrator Deloitte shows.

The report shows claims have been received for £37.9m of the £64.6m owed to unsecured creditors, including £27.9m of the £40.6m owed to trade creditors at Waverley’s collapse.

The report says: “The administrators expect there will be a dividend to unsecured creditors. The dividend is estimated to be in the region of 4.3p to 7.6p in the pound, but this is subject to change and dependent on the total level of claims agreed, the level of future realisations and the level of future costs.”
Debts plus interest and termination fees to secured creditors have been paid in full, the report states.

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