LDV: The wait goes on for staff
May 14 2009 by Vicky Farncombe
Months of agonising continues for hundreds of LDV workers after a hearing to place it into administration was adjourned again.
Lawyers for the Washwood Heath van-maker returned to Birmingham County Court for a second time this month yesterday after applying to go into administration weeks ago.
The company now hopes to restart production after Russian owners Gaz agreed to sell it to Malaysian firm Weststar, aided by a £5 million Government loan, but a delay in paperwork means the hearing will adjourn until next Monday.
LDV spokesman Guy Jones said the loan was expected to be finalised by today so directors can focus on negotiations for the future of the company.
He said the deal would help secure “the maximum number of jobs possible” but could not guarantee every job would be saved.
Meanwhile, LDV has told workers there may be delays in wage payments because of the complicated processes to release funds.
Mr Jones said: “I think we will get a decision next Monday when all of the funds and paperwork are there.”
