MCE administrator report reveals £35m HMRC claim as totals soar

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The administrator of MCE Insurance has received £155.7m in unsecured claims from trade and expense creditors with the figure ballooning from £32.3m, the latest progress report has revealed.

Motorbike specialist broker MCE fell into administration in July last year with Crowe UK appointed to the role.

In proposals issued in September, MCE was projected to have assets of £2.5m versus liabilities to preferential creditors (staff) and second preferential creditors (HMRC) of £1.6m.

This meant, given the estimated £32.3m of unsecured claims, a forecast shortfall of £30.6m for this pot after full payout to preferential creditors.

Progress

However, in a filing published this month, setting out

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