Creditors of Curo Construction and its interiors subsidiary could get back 28p in the pound after a judge this morning (17 July) granted an application by the firm to appoint administrators.
Curo Construction had faced a hearing next month into a winding-up petition brought by steelwork firm Nationwide Structures.
But, at an insolvency hearing this morning, Judge Agnello ruled that administration for Curo Construction, subsidiary Curo Interiors and holding company Curo Group Holdings would result in a better realisation for creditors than compulsory liquidation.
She said: “I have been taken to an estimated outcome statement […] that indicates that the estimated difference – which is described as being conservative – is a difference…