Creditors of collapsed group unlikely to be paid

On Friday morning creditors attended a meeting to hear about the next steps

People owed money by parts of the collapsed Garenne Construction Group have been told they are unlikely to receive any payments from them.

The group went into liquidation at the beginning of April, followed by Rabeys Commercial Vehicles and Hurel Ltd, formerly RG Falla.

On Friday morning, about 50 people attended a meeting to hear about the next steps for Hurel Ltd.

About 20 attended to hear about Rabeys Commercial Vehicles.

David Warr from the charity Vive La Vallette was one of the ten people at the meeting for creditors from Garrenne Construction Group Ltd.

He said he was told by liquidators it was unlikely there would be any money available to pay creditors.

"I think for the creditors I doubt there will be any returns, as the liabilities are significant."

Since the collapse of Rabeys Commercial Vehicles, nine of the former staff have been hired by the States of Guernsey.

AFM and Granite Le Pelley were both saved by management buyouts.

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