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Nene Valley Construction Limited

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The joint liquidators are pleased to report that a dividend of 66.37 pence in the pound was declared and paid to preferential creditors on 9 April 2015.  The Company operated as a groundworks contractor based in Kettering.  The Company was successful in winning a number of significant contracts with some of the country’s largest house builders and traded profitably for a number of years.  Unfortunately, due to the property crash in late 2007 and the subsequent recession, the Company was forced to enter liquidation in February 2010.  As well as realising the Company’s assets such as plant and machinery, motor vehicles, and furniture and equipment, the joint liquidators have doggedly pursued the realisation of a number of retentions relating to contracts which the Company had completed shortly prior to entering liquidation.  As retentions can be a tricky asset to deal with, the liquidators are happy that their efforts have resulted in the preferential creditors, of which the majority are former employees who were owed outstanding wages and holiday pay, receiving some of the funds owed to them.