BusinessBusiness RecoveryFarepak customers could swamp PwC meetings

Farepak customers could swamp PwC meetings

PwC will go ahead with creditors' meetings despite concerns that they will be swamped by Farepak customers

PricewaterhouseCoopers, administrative receivers for Farepak parent company
EHR
, is set to outline a series of creditors’ meetings despite concerns that
they will be swamped by Farepak customers.

Although Farepak savers are not creditors of EHR, there
are concerns that they will swamp any meetings organised by PwC partners
handling the administrative receivership.

Farepak administrators from BDO Stoy Hayward had
previously obtained a court order exempting BDO from holding a meeting because
there were so many individual creditors.

PwC’s meetings are not expected before Christmas, reports the Sunday
Telegraph
.

Further reading:

Farepak loans ‘nothing to do with
audit’

BDO and DTI to investigate Farepak collapse

Faretax?

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