A progress report by financial services firm Mazars, which was appointed as administrator of Sterecycle Rotherham Ltd in September 2012, reveals that the waste treatment firm owed creditors a total of £4,246,872, of which £1,150,496 has been repaid.
The report, which was produced by joint liquidator Guy Hollander, was published last month (August 12) and also details that Sterecycle owed trade creditors a total of £3,262,389, when it ceased trading.
Other creditors include HMRC, which is owed a total of £149,729, all of which is yet to be repaid.
A further payment of around £37,882 is set to be paid to creditors later this month. A total of more than £220,000 has been paid to the adminstrator for its work in liquidating the company.
Trial
Sterecycle is due to stand trial next month over corporate manslaughter charges relating to the death of a worker at its Rotherham plant in January 2011 (see letsrecycle.com story).
Michael Whinfrey, 42, was killed as a result of injuries suffered in an ‘industrial explosion’ at the 100,000 tonnes per year waste processing plant.
The explosion is believed to have been caused by a sudden loss of pressure in vessels used in the treatment process. The autoclave was one of two pieces of equipment on site that used steam and pressure to break down the organic content of household waste, derived from Barnsley, Doncaster and Rotherham councils.
Sterecycle ceased operations at the Sheffield Road plant in October 2012 after having been placed into administration.
Charges were brought by the Crown Prosecution Service in October 2013, following a lengthy investigation into the explosion by the Health and Safety Executive and South Yorkshire Police.
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