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Norton Motorcycles enters administration over taxes

Norton Motorcycles enters administration over taxes
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Norton Archives - Paul Tan's Automotive News

Norton Archives - Paul Tan's Automotive News
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TVS Motor India buys Norton Motorcycles for RM87m

TVS Motor India buys Norton Motorcycles for RM87m
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New high-tech Norton factory heads for March completion

Another claim has also arisen from Tudor Capital, who say they are owed money from a claim that was incorrectly marked as satisfied. BDO’s investigation has shown their claim is valid and they expect to make a repayment in the region of £1.7m.
Second in line are the preferential creditors, however given all the employees have been taken on by the new TVS backed business, it’s not expected they will make any claims.
Next up come the unsecured creditors, which include deposit holders. To date BDO have received £8.8m of claims from unsecured creditors, far exceeding the £6.2m held on record. Despite this, BDO say they expect to make a distribution to the unsecured creditors, but they don’t know how much this will be or when.

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