UNSECURED CREDITORS of five companies formerly owned by the Marr brothers in Dundee will not see a penny of the £770,000 they are owed, it was confirmed yesterday.

The brothers’ financial backer, the Bank of Scotland, is facing an even greater shortfall. A spokesman for receivers Kroll said the five firms had just over 300 creditors, although it is understood some creditors were owed money by more than one company.

The spokesman declined to put a figure on the cash the bank would lose, but said it was in excess of the total claimed by the unsecured creditors.

Creditors of Call-A-Keg Ltd, Marbelles Ltd, Camperdown Construction Ltd, P&J Taverns Ltd and Demryan Property Company Ltd were given the chance to attend statutory meetings at the Apex City Quay Hotel yesterday, but few turned up.

A three-member team from the receivers was on hand to advise them of the dividend prospects but the spokesman said it was not uncommon for there to be little response from creditors under such circumstances.

Some proxy forms were submitted by creditors which meant a couple of the meetings scheduled for yesterday were deemed to have taken part even though there was no one in attendance.

The receivers are required to hold a meeting and table a report at this stage in the proceedings under the terms of the Insolvency Act 1986.

Kroll said the recovery of assets from the five companies had been “reasonably good,” but the magnitude of the brothers’ bank debt meant there was nothing left for unsecured creditors.

The companies went into receivership in February. Another company, Tayside Food and Drink Services Ltd, was placed in administration at the same time.

Jimmy and Peter Marr were better known for their former roles as chief executive and chairman respectively of Dundee FC when the club found itself in a financial crisis in 2004 with debts totalling more than £18 million.

The club’s unsecured creditors, who were due more than £1.1 million, ended up getting just 21/2p in the pound as part of a company voluntary arrangement (CVA).

The CVA, a technical device for debt restructuring, meant Dundee avoided a deduction of league points but denied trade creditors most of the money owed to them by the club.