BusinessBusiness RecoveryBDO’s ebay move could start a trend

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

BDO Stoy Hayward

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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