CLASS payouts due
CREDITORS of the satellite auctioneering company Highweek Realisations, formerly known as CLASS, can expect a payout of about 60p in the £, according to liquidators Francis Clark.
"The directors estimated statement of affairs shows total liabilities of about £1.58m, and total assets of £1.09m," said Francis Clarks Stephen Hobson.
"The exact figure could vary either way," he added, "but hopefully will become clearer over the next two or three weeks."
His comments came after a creditors meeting in Exeter where it was revealed that over £1.43m of the debts is to primary centres. Among them is Honiton Market Auctioneers, which has since had its bank account frozen, leaving it with "several" farmer creditors of its own. It has, however, continued to run its auction with the temporary backing of another auctioneer. *