The founder of Daewoo has been pardoned for his role in the failure of the
motor manufacturer in 2006.
Kim Woo-choong was convicted and sentenced to ten years in jail for
accounting fraud in 2006. Daewoo, once South Korea’s second-largest
conglomerate, collapsed under a $80bn (£40.3bn) debt.
Roh Moo-hyun, the outgoing South Korean president, pardoned other businessmen
and 74 politicians in a traditional New Year amnesty, the FT reports.
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
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children