23 Dec 2004

Creditors want US$8.5m from Royal Tongan Airlines

10:19 am on 23 December 2004

Creditors are claiming over US$8.5 million from liquidators of Royal Tongan Airlines.

However, the Pacnews agency reports they have only recovered US$1.13 million from the sale of the company's assets and other funds, according to the liquidator's second report.

Price WaterhouseCoopers of Auckland, New Zealand, were appointed liquidators of the airline this year.

The liquidators say they are still processing creditors' claims.

They note that only 106 of the 206 former airline employees had filed claims, and they are encouraging the remaining employees to return their claims as soon as possible.