The fallout from the Dawnay Day collapse continued as administrators
Hayward siezed two luxury Mangusta yachts founders Guy Naggar and Peter
Klimt bought with company money to entertain clients.
One of the boats is a 108ft cruiser with a price point of more than €10m
(£8m) and the other is an 80ft boat with a pricetag of between €2m and €5m.
Later this month, two artworks will be auctioned by the administrators at
Sotheby’s to raise cash to pay creditors. Jenny Saville’s Rosetta 2 has a guide
price of between £350,000 and £450,000, while a Damien Hirst montage of dead
butterflies is priced between £250,000 and £350,000, The Times
While investigating the collapse, BDO discovered money set aside to pay
monthly rent was used to pay margin calls on several investments which had been
made on movements in public-share prices. The company collapsed when their value
Does Darwin's theory apply to taxation? Colin ponders...
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