The Big Four firm has made the claim against Equity Trust (Jersey), which is
acting on behalf of Ironzar Trust, but the firm faces a countersuit for acting
negligently and failing to exercise reasonable care.
KPMG claims it should have been appointed as agents for the sale of two
properties – Queensmere Shopping Centre and the Observatory Shopping Centre –
which were sold for £192m.
The firm was contracted to provide a feasibility study into the sale of the
two Slough sites, plus Stockport-based Merseyway Shopping Centre, and would
serve as selling agent if the project were aborted, but if the properties were
marketed for sale at a later date.
KPMG also proposed selling the centres through a collective investment
Another adviser expressed doubt about such a scheme, prompting a counterclaim
from Equity Trust over negligence and a failure to exercise reasonable care.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.