Sizeable returns expected for MT secured creditors

The administrator of The Mortgage Times Group says the network’s directors anticipate substantial returns to secured creditors.

Insolvency firm Kelmansons Costa Business Solutions was appointed as administrator last Tuesday, Mortgage Strategy can reveal. John Kelmanson, managing partner at KCBS, says secured creditors are the priority but others, including appointed representatives, could be paid something.

He says: “The direc tors anticipate a substantial return for secured creditors, and if we are able to maximise returns from the assets of the business, hopefully all creditors will receive something.”