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Electronics Production | September 27, 2010

Simclar: Legal fight continues

Liquidators to the Simclar Ayrshire business in Scotland (facilities in Irvine and Kilwinning) will continue their legal fight with Sam Russell.
Mr Russell put the business in administration in 2007, with the loss of 420 jobs. Lawyers from Pricewaterhouse- Coopers (appointed liquidators) seek the recovery of dividends they claim were paid unlawfully by Simclar Group in 2006. The original claim was amended and now includes GBP 18 million in respect of the transfer of the ownership of a Chinese subsidiary (from Simclar Ayrshire to the group), reports The Herald.
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