NEWS Failed e-tail fulfilment company WebVan is dividing up its remaining cash to pay back at least a percentage of investors' money. WebVan has around $25m to divide - a sharp fall from the $1.2bn it initially collected from investors. Bankruptcy officials will now decide who should get their money back. Mercedes Leasing is claiming $20m for vans it supplied the company. George Shaheen, the former chief executive of Andersen Consulting, was promised $375,000 a year for 20 years to run WebVan. He is claiming $5m from administrators.
WebVan flogs the van
...and the warehouse, and the lovely uniforms...
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