You may recall in previous Quair articles, I raised the issue of constituents who had lost money following the collapse of Farepak, the Christmas savings firm. I also held a public meeting in Aberfeldy. We have now heard that customers and agents of Farepak will ultimately receive half of the money they lost when the company collapsed – after liquidators BDO said that final payments will be made to those who lost out at the end of August.
Farepak collapsed in October 2006 owing £37m to more than 119,000 savers and I was contacted by a lot of constituents who had been affected. While savers are to recover just half of their money back the final bill for the administrators and their legal advisers has already exceeded £8 million. It is understood that the UK Government will also meet the costs of the company directors who have been cleared – costs estimated as much as £6million.
After a six year wait it is shameful that customers and agents will only receive half their money back while administrators pocket millions and taxpayers pick up the tab for the company directors’ legal costs. There is something seriously wrong when liquidations can take years to finalise. Sadly, over 200 of those waiting for compensation have actually passed away while waiting for the insolvency gravy train to come to a halt.
It should be stressed that Farepak’s liquidator has confirmed that dividends will be paid to the next of kin or, where applicable, the estate of the agent or customer. Also, creditors who have changed their address since submitting their original claim but have not notified the Claims Management Team should register their change of address by sending details of their name, their agent’s number, the amount of their claim, their old address, their new address and their signature to Claims Management Team, Farepak Food & Gifts Limited – In Liquidation, PO Box 3404, Swindon, SN2 9EQ within two weeks.
Having waited for so long, I would hate to see anyone missing out on getting back at least some of what they are due.
I was delighted to be in Aberfeldy recently to perform the tape cutting ceremony to officially open the new garden green space which has been created from the jungle of weeds that had developed over the years at the back of the Town Hall. The area has been landscaped with the help of a grant from the Griffin fund. During the day the Horizon Social Club held their all day garden tea party to raise funds. Despite the rain, there was a good turnout, and the Horizon Club all day cafe was very popular. Congratulations to all those involved.
I was pleased to give a warm welcome to the announcement by the Scottish Government’s Minister for Infrastructure, that the £3bn programme of work to make the A9 dual carriageway all the way from Inverness to Perth will start two years ahead of the original schedule. This will mean that work on these important improvements will start two years ahead of the original schedule.
Since 2007, we have already seen £50million invested in improving safety and traffic flow on the A9 and once this programme is completed the road will, at long last, be dual carriageway along the whole of that stretch from Perth to Inverness.
The A9 is a massively important arterial route running along Scotland’s spine and giving goods, commuters and visitors access to the many communities along its length. Any fatal accident is one too many but the number of accidents and the number of fatalities on the A9 have born tragic witness to the need for this work to be done. I am proud that after years and years of campaigning by the A9 communities, it is our Scottish Government that has put in place the plans, the money and the timetable that will see these important safety improvements brought into being.
I can be contacted at my office in Blairgowrie at 35 Perth Street, Blairgowrie, PH10 6DL, you can call me on 01250 876 576 or email me at email@example.com