London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

35 year long liquidation of Apal is finally completed

The 35 year long liquidation of Apal is finally completed, a tour operator that went bust in 1974 after the collapse of the Israel-British Bank. The case involved complex loans and lengthy legal actions outside the UK. 

The creditors, totalling more than 500, comprised holiday makers, airlines and hotels. They were paid a total of 74p in the pound; the first of seven dividends was paid in the 1970s and the final dividend was paid in August 2009.

As the recent cases of Lehman Brothers, Bernard Madoff and Allan Stamford undoubtedly involve many complex issues, will any of these last longer than the 35 years of Apal?

Caroline Stark is a senior manager at Mercer & Hole. The views given in this blog are personal to the author.



Date: 28th September, 2009
Author: Caroline Stark


Articles from this Author

Contact a Partner


We sponsored the Rickmansworth Festival in support of the Rickmansworth Waterways Trust and to benefit the local co……

We will help you determine how best to prepare your business for Brexit. We are hosting a a seminar on Brexit: VAT……



For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn