|
|
17 Mar 2010
BDO, administrators to credit card payments company E-clear, has arranged a creditors meeting next week to continue work on a creditors committee, if necessary.
E-clear was pushed into administration by Globespan, the Scottish airliner, following an investigation by its administrators from PwC.
The airliner fell into administration following claims some of the fault was due to E-clear owing the company over £30m. PwC administrators investigated the accusations and found the credit card payments company was unable to repay the money causing it to also fall into administration.
BDO were appointed this year and are investigating the business and activities of the management.
In its latest creditors report the administrators reveal the location of previously missing laptops with vital financial information and acknowledge E-clear's role in the collapse of Globespan due to being "deprived of cash flow ", The Guardian reported
Further reading:
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment