When the Channel Ferry operator Speedferries collapsed last year many people were caught with pre-paid tickets and vouchers which could not be honoured.
;Now the Administrators Ernst & Young are reporting that the proceeds of the sale of assets (including SpeedOne) will not even raise enough money to pay off the Bank who are secured creditors; so there is nothing to be shared with preferential or unsecured creditors such as ticket holders.
The Bank of Scotland got about £2m back, and Ernst & Young earned over £880,000 for being Administrators.
The only hope for paying customers would appear to be through the credit card companies if you paid by credit card.
Since the collapse of SpeedFerries LD Lines has been developing the Dover – Boulogne route which remains one of my preferred routes into northern France.
