- Nov 11, 2011
- Reaction score
- Canada Eh!
Some Good News
The Norton Motorcycles pensioners should receive some good news here soon. Some documents recently came out that make it sound like they will be repaid the money that they lost in the pensions schemes. In some UK Companies House publicly available documents, it was stated that there should be enough money to go around to pay back the pensioners.
According to RideApart, there should be enough value in the company to pay all of its creditors, and then there will still be about $6,476,877 left over. It’s unclear how soon the pensioners could receive their money, and it’s not like there’s simply money to pay them sitting in a bank somewhere. It’s tied up in the assets of the company. This means that it will take some time before there is money available to pay the pensioners.
Unfortunately, they’re likely low on the list of people owed money from Stuart Garner’s Norton Motorcycles. There are numerous creditors waiting to be paid, so while it sounds like the pensioners will get paid, it will likely be some time before they receive any money.
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