KPMG in dispute over TV cartoon
Senior partners involved in accusations over insolvency of animation group
Senior partners involved in accusations over insolvency of animation group
Two senior KPMG partners are embroiled in a bitter court battle in which they
are accused of criminal breach of trust, perverting the course of justice and
perjury.
Mick McLoughlin,
head of global restructuring and recovery at the Big Four firm, and
Allan Graham, partner,
are facing the charges over their administration of EDI Realisation Limited,
part of an animation group which owned rights to television cartoon characters
the Butt Ugly Martians.
The charges have been levelled in court papers filed last month by Mark
Hardy, currently in charge of Think Entertainment, the new name for the group of
companies.
The firm told Accountancy Age in a statement: ”We are already aware
of certain allegations made by Mark Hardy periodically about various parties
including KPMG. These have been responded to, and we do not consider it
appropriate to comment further.’
The dispute arose over money raised by shareholders to revive the troubled
group, of which EDI was one subsidiary. Hardy alleges £500,000 was transferred
to EDI in breach of an agreement over the purpose of the rescue fund.
KPMG went to court last month to hammer out issues over the disputed payment.
Hardy alleges the new proceeding is an attempt to obstruct justice and further
claims Graham has perjured himself in his witness statement.
The case is expected to come to court later this year.
Further reading
The numbers you crunch tell a story. Your expertis...
17yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleNationwide acquires Virgin Money for £2.9 billion, becoming the UK's second-largest mortgage lender and significantly altering the financial sector's ...
View articleThe Bank of England maintains the interest rate at 5.25%, reflecting optimism for economic recovery and potential future rate cuts, amidst signs of ea...
View articleUK wage growth cools, sparking debate within the Bank of England. Will a slowdown be enough to tame inflation and avoid interest rate hikes? Household...
View articleWorking parents can save on Easter childcare with the Tax-Free Childcare scheme. Read More...
View articleUK's accounting watchdog, the FRC, eyes a move out of London's financial center by year-end. Canary Wharf or Stratford are potential new hubs, reflect...
View articleSmall businesses within the UK will be allowed to take out loans up to £50k, with all loans guaranteed at the same interest rate Read More...
View articleAmidst cancelled exams and revoked internships, there are concerns that the accountants of the future are being left behind Read More...
View articleData security experts warn accountants that phishing and hacking schemes are on the rise, putting firms at risk of GDPR fines and data breaches Read M...
View article