BDO Stoy Hayward

BDO’s ebay move could start a trend

BDO's move to sell troubled FI team's assets on ebay could set a new trend in the UK market

Written by David Jetuah

Liquidators have said more disposals could go online after BDO Stoy Hayward’s decision to sell off Super Aguri’s holdings on ebay.

The firm’s move to use the online auction site to put the troubled F1 team’s assets up for sale is a first for the UK market, and another leading IP has said his firm could follow suit.

‘It’s something we’d consider.’ said Nick Hood, insolvency partner at Begbies Traynor. Hood said the move had already been made by Pluta, the German member of the Begbies’ global network with ‘fantastic results.’

‘Pluta sells all of the assets that it’s possible to sell on ebay. You can’t sell real estate, for example but everything from cars to 5,500 pairs of sunglasses can be put up,’ said Hood. ‘They get fantastic results.’

Administrators from PKF had been hoping to sell the business as a going concern, but creditors went for liquidation and transferred Super Aguri to partners from BDO.

Hood added that IPs would have to vet middle men between liquidators and buyer if the practice became widespread. ‘You’d need to find the right merchant to work with.’

If a buyer is not found beforehand, the Super Aguri auction is set to take place between July 29 and 31.

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