KPMG, the administrators of airline parts supplier Aero Inventory, has billed
over £2m in time costs for their first month in charge.
A statement of affairs and creditors’ report has highlighted the firm’s time
cost equate to £2,012,075 for administration work for AIUK and a further
£17,000.50 for work in respect of AIPLC, between 11 November and 11 December.
The firm believes it will be able to repay preferential creditors in full and
a dividend to unsecured creditors of approximately 1.1p in the pound.
Jim Tucker, Richard Heis and Allan Graham were appointed joint administrators
More to follow.
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
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK