Burdens creditors to meeting this morning

Trade creditors of failed civils and drainage merchant WTB are meeting in Manchester this morning (February 1) to find out if they will get their money back.

Duff & Phelps, says that WTB Trading, formerly Burdens, owes £63m to 1,684 unsecured creditors.

Secured creditors Lloyds Bank and GE Commercial Finance will be paid a total of £21m.

Apparantly the complex way that the WTB group was structured, with several companies owned and stakes in many more, has complicated things for the administrators.

Some of the creditors are:

· ACO Technologies £1.9m

· CPM Group £2.7m

· Cemex UK £1.3m

· Marshalls £4.2m

· Naylor Drainage £1.2m

· Polypipe Civils £3.6m

· Polypipe Building Products £1.0m

· Saint Gobain Pam UK £4.6m

· Tensar Int £1.1m

· Viking Johnson £1.0m

· Wavin £2.8m