A hearing brought by a US group of bondholders known as the 1986 Noteholders failed and the court also overruled the group’s demand for leave to seek an appeal.
Alan Bloom, head of corporate restructuring at E&Y and in charge of the Barings case, told AccountancyAge.com: ‘A judgement was made and the application to have the liquidators removed was refused.’
The group, also referred to as vulture funds, wanted KPMG to replace E&Y as their representative in the £1bn court case due to start today.
Coopers & Lybrand London and Singapore, now merged into PricewaterhouseCoopers, made a joint application together with the UK and Singapore liquidators to postpone the trial until 25 June 2001 to give both parties more time to discuss the possibility of a settlement.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.