BusinessBusiness RecoveryKPMG bill £2m for Aero Inventory administration

KPMG bill £2m for Aero Inventory administration

Administrators has revealed their time costs have hit £2m+

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
in November.

More to follow.

Further reading:

SFO
set for Aero Inventory accounting prob
e

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