French Duncan pair take over at stricken North Sea procurement firm

Brian Milne and Linda Barr of French Duncan Restructuring and Debt Advisory have been appointed joint administrators of Aberdeen-based oil sector procurement company GOT Procurement Services.

The pair were appointed on May 3 to the firm which was set up by businessman Warren Anderson, who earlier this year was made bankrupt and barred from being a company director for 12 months.

According to reports, GOT Procurement Services had about five employees on its books when it folded but it is not yet clear how much money the company owes to creditors.

Although, it is understood they are unlikely to see any return on value after GOT overspent on equipment and premises before the oil price downturn struck.

The demise of GOT Procurement Services marks the second failed firm under Mr Anderson after the similarly named GOT went bust in mid 2015 owing creditors more than £5 million.

Less than two weeks later Mr Anderson launched GOT Procurement Services which agreed to buy the business and assets of the defunct company from administrators.

This month’s appointment of French Duncan at GOT Procurement comes just three months after a move by KPMG in February to take legal action to recover the balance of an outstanding director’s loan Mr Anderson took out before GOT collapsed.

Mr Anderson and his trustee at Anderson Anderson Brown said at the time that the businessman was co-operating fully.