Administrators at Wrekin Construction were today awaiting delivery of a gemstone recorded as an asset of the Shifnal-based company.

Former chairman David Unwin today told the Shropshire Star that the “gem was on its way back to the administrators” in response to a request for a comment about the collapse of the firm.

Mr Unwin, chairman of the Tamar Group which bought Wrekin in 2007, had refused to make any public comment since the company was forced into administration on March 10. But in an e-mail response, Mr Unwin today said: “The gem is on its way back to the administrators, there was a delay because they could not get insurance cover for it.”

Administrator Ernst & Young today confirmed it was aware a gemstone was due to be delivered into its possession. A spokesman for the administrator said: “Until we have the ruby in our possession and in a secure facility, we cannot comment further.”

Accounts for both the Tamar Group and Wrekin Group in 2007 show a ruby known as the “Gem of Tanzania” was sold by Tamar, and purchased by Wre- kin in exchange for £11m worth of preference shares in the company. The purchase transformed the Lam- ledge Lane-based firm’s balance sheet, which showed total assets at the end of 2007 of £28m, including the £11m ruby known as the Gem of Tanzania.

The accounts for both firms say the gem was valued by the Instituto Gemmologico Italiano in Valenza.

A deed of agreement dated December 19, 2007, names a gem known as the Star of Zanzibar as the asset being transferred.