Wednesday, December 20, 2017

Monarch's unsecured creditors face £700m deficit

In a Statement of Affairs filed before the sale of Monarch's slots at Gatwick and Luton, administrators put the deficiency for unsecured creditors at £756.6 million. The report by KPMG estimates that just £27.4 million would be available to pay preferential creditors following the carrier's failure on October 2.
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