KPMG picks up £1m a month from Dunfermline Building Society
£1m-a-month pick-up by KPMG administrators at Dunfermline riles Scottish MEP
Administrators from
KPMG are
earning a million pounds a month while managing
Dunfermline
Building Society.
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
Scotland
on Sunday.
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.
Further reading:
Treasury eyes up valuer for
troubled Dunfermline bank