Bryan Slater, representing the Trade Union Congress, said administrators PwC were wasting money keeping the group in administration, according to the FT
‘The cost of running the administration is far too high in relation to the size of the assets,’ Slater said.
PwC said its fees had been agreed by the creditors.
Preferential creditors, including the Inland Revenue, are set to share just £1.2m of assets, while unsecured creditors will most likely receive nothing.
Last week, at a meeting of creditors, it was decided to keep the company in administration.
The Accident Group collapsed after its parent company, The Amulet Group, ran out of money to pay its employees’ wages and after it failed to secure financing from HBOS.
PwC is also administrators the Amulet Group.
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