BDO ADMINISTRATORS have been given a six month extension to their work at collapsed law firm Halliwells.
Usually an administration will last around 12 months however, joint-administrators Dermot Power and Shay Bannon have been given an extension of six months, Accountancy Age’s sister publication LegalWeek reports.
The announcement comes just weeks after the revelation that unsecured creditors, including the taxman, will receive a share of around £600,000, despite claims totalling about £191.5m
Landlords make up the largest portion of unsecured creditors with a debt of £176.5m, with HM Revenue & Customs the next largest with around £4.3m owed in taxes and nearly £1.2m in VAT.
According to a creditor report published in July, BDO has so far run up fees of £1.06m for 5,013 hours of work, at an average rate of £212.69 per hour.
Last month the administrators launched a High Court claim against a group of former Halliwells partners, to recover more than £21m from properties previously owned and sold by the law firm.
BDO hopes to place the company into a creditors voluntary liquidation in the next six months.
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