The charge of misfeasance was always difficult to prove, but it would seem
somewhat unfair were liquidators not even allowed to bring such actions.
The judge condemned the liquidators’ PR campaign.
It wasn’t, in point of fact, the most unpleasant media coverage ever seen.
Equally, who exactly could be compromised by the media coverage? Only the judge.
There has been some suggestion that the whole process was designed merely to
scare the Bank into a settlement.
The Bank is big enough and old enough to ignore that trick. It’s time we
started commending the courts for discovering such weak arguments, not moaning
about the behaviour of the parties involved.
Alex Hawkes is a senior reporter
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