THE ADMINISTRATORS of failed law firm McClure Naismith have confirmed that none of the firm’s creditors are likely to receive any of the money owed to them when the firm is eventually wound up.
When the firm collapsed in September 2015 it had debts of close to £1 million, with considerable sums owed to businesses including Glasgow printers Caley Print & Stationery, publishing firm Thomson Reuters, Edinburgh property firm Millar & Bryce and the Faculty of Advocates.
Read more: Administrators appointed at 200-year-old Scottish legal firm
Its largest individual debts were owed to landlords BNP Paribas Real Estate (£81,000) and RREEF Equitable House (£161,000) as well as Santander (£179,000), but smaller business such as The Abode Hotel in Glasgow, refuse collection firm Junk Me, Lanark-based Delta Cleaning Services and a medical practice in Larkhall were also left out of pocket.
In his latest progress report joint administrator Tom MacLennan of FRP Advisory said it is “unlikely there will be a distribution to any class of creditor”.
Read more: Administrators say 70 per cent of McClure Naismith staff have new jobs
When the firm collapsed the majority of its partners, including chairman Robin Shannan, found new homes at firms including Burness Paull, Harper Macleod, Maclay Murray & Spens (now Dentons) and Wright Johnston & McKenzie. Over 40 members of support staff were made redundant.
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