KPMG’s team is looking to sell around a £1bn of the society’s loan book and
bonds, but is currently holding onto them to collect revenue and restructure
them, reported the
Advisers have also claimed £121,000 in expenses.
SNP MEP Alyn Smith said in the report that advisers were making £1m a month
while interest rates to businesses were being hiked.
A KPMG spokesman was reported saying that the fee had been approved by the
Treasury, and some of its specialists had been brought in from around the UK and
were staying in flats rather than hotels to keep down costs.
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