MCE administrator updates on progress
The administrators of MCE Insurance have detailed developments on credit hire, property and a court case involving Alpha Insurance in their latest update.
The specialist motor broker went into administration in July 2023, with Crowe UK appointed to handle the affairs. The collapse of MCE led to 77 people losing their jobs.
Initial estimates suggested a shortfall of over £30m for making payments to creditors.
It was made up of assets of £2.5m versus liabilities to preferential creditors (staff) and second preferential creditors (HMRC) of £1.6m, along with expected claims of £32.3m from unsecured creditors.
However, by the start of last year the figure
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