Failed financial services company Keydata Investment Services will have to be
split up and sold, according to administrators PricewaterhouseCoopers.
PwC is in talks with interested parties to sell parts of the business, which
provides account management and administrative services to banks including
Credit Suisse, Morgan Stanley and HSBC.
The Financial Services Authority is in talks with the banks to continue
operating Keydata’s services until its assets are sold. FT advisor reports that
the FSA has confirmed that the talks include discussions with the Serious Fraud
Office about potentially missing assets in some of the failed company’s
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies