Hamilton Burns creditors unlikely to see their money

9th March 2018 | practice management

Creditors of legal firm Hamilton Burns, which went into administration last year, are unlikely to see any of their money, the administrators have reported.

Tom MacLennan and Iain Fraser of FRP Advisory, appointed to the firm's affairs when it collapsed last May, say that they now believe that the amount of debt they will be able to recover will be "at the lower end of expectations".

As a result, it is "doubtful there will be sufficient funds" to pay the £25,000 owed to staff in unpaid wages and holiday pay, nor can unsecured creditors, including HMRC which is owed £210,400 in tax, expect to see any of their money.