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Owners angry at Peters creditors meeting
23 Oct 2007
BB understands around 30 people turned up for the B A Peters creditors’ meeting last Friday, October 19.
Brian Peters was not one of them; he was, says KPMG, in Spain trying to sort out his two companies over there.
Attended by a few industry companies, the voluble majority was made up of irate boat owners who had dealt with Peters Plc on brokerage and new boats and had been left with neither boats nor money to show for it.
There was much heated debate on how the client account ended up with a shortfall of £536,000 and KPMG says two directors have been asked to sign affidavits on where the client account funds had gone.
But BB understands from KPMG that there is now a date of November 6 for the court hearing on how the client account should be dealt with. A KPMG spokesman told BB they expected the first hearing to be procedural, but to set a second hearing date.
Hopefully, this will be before the end of this year, or early next.
The figures set out in the creditors’ report circulated by KPMG also appear to be in some doubt, being, as joint administrator Jane Moriarty pointed out, the directors’ view of what was owed.
Moriarty said KPMG was still going through the books and that it would be unlikely any further light will be thrown on proceedings until next April with any creditors monies – KPMG feels it’s probable there will be a payout – not appearing before the end of 2008.
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