PracticeAccounting FirmsKPMG in line for NTL pay-out

KPMG in line for NTL pay-out

KPMG is in line for a share of the expected fee bonanza following the restructuring of NTL, the cash-strapped cable company.

As the company moved closer to securing one of the largest corporate restructurings, it emerged City advisers, including KPMG, could get a £500m pay-out.

This would be one of the largest pay-outs the City has received – others set to benefit include Credit Suisse First Boston, JP Morgan, Morgan Stanley and law firms Travers Smith Braithwaite and Clifford Chance.

Yesterday NTL agreed a $10.6bn (£7.3bn) debt-for-equity swap with bondholders, but the deal still needs to be agreed to by the company’s bank lenders and minority bondholders.

Related Articles

Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

3w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

1m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin
EY, Deloitte lead Big Four in gender pay gap reporting

Accounting Firms EY, Deloitte lead Big Four in gender pay gap reporting

2m Emma Smith, Managing Editor