By NEIL HARTNELL
Tribune Business Editor
The Government and former workers are set to receive just over 10 percent of what they are owed by a Cavalier Construction affiliate, its liquidators have revealed.
Andrew Davies and Kendrick Christie, the Crowe Bahamas accountants and partners, affirmed in a recently placed advertisement that Bobcat (Bahamas) preferred creditors are due to be paid a solitary dividend equivalent to 10.28 cents of every dollar they are owed.
So-called preferred creditors are typically the Government, with outstanding tax liabilities due to it, plus former staff who are owed severance payments plus other sums and benefits unpaid when the construction machinery and equipment supplier was pl…
Read the full article at: http://www.tribune242.com/news/2023/sep/13/insolvent-contractors-staff-recover-just-10/