KPMG, as adminstrator for part of the Dunfermline Building Society, says
enough funds may be generated from the administration to save the institution’s
It had originally lodged an application for entry to the state-backed Pension
Protection Fund for Dunfermline’s £32.8m scheme, which is thoguht to have a
shortfall totalling up to £20m.
The unique structure of the building society meant that members of the
pension fund were ranked above the mutual’s depositers and the taxpayers in
terms of creditor repayment.
KPMG says it will raise money from the sale of an £800 million commercial
property portfolio and £300 million in mortgages. Both sets of assets are
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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