After three-day hearing, judge's decision not expected for several weeks
The decisions about who gets what in the aftermath of the collapse of Peters Opal sail and powerboat dealership in August last year are not expected before the end of March, according to lawyers representing boat owners involved.
Administrators KPMG were called in to try and sell the company leaving many buyers, sellers and suppliers out of pocket and awaiting their day in court.
The judge in the hearing, which started on 10 March and lasted three days, is not expected to give a verdict for several weeks, however there is hope for some of the affected customers.
It is understood that boat owners and buyers involved in brokerage deals via Peters Opal remain hopeful of getting their money back, perhaps even with expenses. However new-boat buyers may not fare so well, as many of these boats were owned by finance companies.
The KPMG administrator’s report published two months after the takeover in August found that funds in the client account were routinely transferred to the business account, which ended £6million overdrawn.