A report by Neal Batson, the lawyer appointed by US bankruptcy authorities, said that: ‘RBS’ claims in the bankruptcy case, totalling approximately $537m, are susceptible to being equitably subordinated to the claims of other creditors.’
The report also states that there is ‘sufficient evidence of inequitable conduct’ by the bank to render its claims on Enron subordinate to claims from other parties.
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
Smith & Williamson has been appointed administrators of charity 4Children