The collapse of Granville Technology, which manufactured Tiny and Time computers, is complicated by doubts over the ownership of the Tiny/Time brands, according to the Independent on Sunday.
A source told the paper that an executive trust, connected to Granville's major shareholder, Tahir Mohsan, was claiming ownership of the brands, thought to be the most valuable assets owned by Granville.
The paper also reported that the main creditor, HSBC, is unlikely to recoup any of its £19m debt due to the lack of saleable assets in the business.
It is expected that debts to trade creditors will total £20m. Customer liabilities and rents to landlords are yet to be calculated.
Granville, which sold Time and Tiny computers through its 78 retail stores, collapsed on 27 July.
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