1,000 creditors, owed 拢23m, are unlikely to get anything if failed contractor鈥檚 plant is not found

Former employees of collapsed contractor Lancsville could face investigation over missing company assets.

The news emerged this week, as the full extent of the Harrow-based firm鈥檚 debts was laid bare in a report by administrator Vantis. If the assets, which include tower cranes and other plant equipment, are not found, a thousand creditors will be left of pocket.

Nick O鈥橰eilly, an administrator at Vantis, said: 鈥淭here is an implication that some of the missing equipment has been removed deliberately, possibly by individuals connected to the firm.鈥�

If the missing plant is not found, Vantis said it would consider 鈥渇urther action鈥� against unnamed individuals within Lancsville.

Lancsville, which had a turnover of 拢139m in 2009, was put into administration in December following concerns about the firm taking on jobs that were too big for it.

A total of 990 creditors, including investor Agilo and its banks, are owed 拢23.3m. Agilo will receive an undisclosed portion of its 拢8.5m back, but Vantis said it was unlikely the banks or suppliers would get anything.

Two creditors, real estate firm Leslie (Wembley) and Yuanda (UK), a branch of Chinese owned Yuanda Aluminium Group, are owed just over 拢1m. Other major creditors include ConstructionSkills, which is owed 拢470,000, Pine View Interiors (拢654,274) and Reinforcements Peterborough (拢775,142).

Debts are also owed to firms including Kier (拢108,800), Barratt (拢6,000) and Carillion (拢1,500), and consultants including Scott Wilson (拢135,100) and 黑洞社区 Design Partnership (拢15,400). Nine London boroughs are also owed a total of 拢140,000.

Bank of Ireland is owed about 拢250,000 and Bank of Scotland 拢32,900. The administrator has so far collected more than 拢100,000 in fees for its services.

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