Motor Homes company liquidator tells owners interim dividend is imminent but lengthy wait to come as owner’s assets are assessed

The liquidator at a failed Motor Homes brokerage in Fife has told customers who gave the company their vehicles to sell, that they can expect an interim repayment but also a lengthy wait as she investigates the assets of the former owner Christine Galloway.

Liquidator Claire Middlebrook of Middlebrooks Business Recovery and Advice said: “There have been many tears shed by people who trusted St Andrews Motor Homes due to its reputation and its many years of trading. Some saw the sale of their motor home as a vital part of retirement planning, but now £1m of their money has gone.”

Middlebrook explained that to help trace income which the St Andrews director gained by selling individual vehicles, her team are carrying out a forensic search of company bank statements. The search will go back two years, the relevant period for the 50 sellers.

“St Andrews Motor Homes creditors are rightly anxious to know if they will get money back” said Middlebrook. “I’ve told them it’s likely but depends on me being able to sell company assets in particular the yard between Cupar and Pitscottie where the motor homes were traded from. I will not disclose the valuation of the property for now in order not to prejudice potential offers.”

Ms Middlebrook said it was already known that Christine Galloway had a director’s loan from her former company of between £50,000 and £60,000.The liquidator hopes to establish if any further funds were withdrawn for personal use. Claire Middlebrook said “I will then offer her the chance to make repayments to meet her liabilities.”

Ms Middlebrook has told creditors she will not take part in criminal proceedings but is being advised by the insolvency lawyer Gillian Carty of Shepherd and Wedderburn.

Ms Middlebrook said: “Due to the emotion I have felt from owners, I am using powers of liquidators not often used to find out where these substantial sums of money have gone. It is extremely unfortunate that when the shutters fell, it was on this particular group of people. Had the music stopped six months earlier it could have been an entirely different set of owners.”

The liquidator added that several motor homes awaiting sale when the company’s gates were locked have been returned to owners. Claire Middlebrook will meet the liquidation committee later this month to update them on progress.

The following creditors have been elected as the Liquidation Committee:

Lisa Beattie, Raymond Davidson, Valentine Stafford, William Cairns, Carol Moore.