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BDO refused appeal in bid to recover cash from former Halliwells partner

How can it be right that the creditors get stung for indemnity costs (depletion of realisations) because the Liquidators messed up? If you look at some of the commentary around BDO's fees on the Farepack matter you cannot help but feel that their industry needs better regulation and some legislative control over the fees which are charged. Why are the Liquidators not paying the indemnity costs personally if their strategy led to such an order? Why does it have to come out of the sums collected for the benefit of creditors?

28-Jun-2012

7:14 am