It seems now that the administration process isn’t running as smoothly as expected. KPMG has requested another six months to finalise the process, in a move that is expected to benefit creditors.
Those DWF partners who transferred to the firm following the collapse will be keeping a close eye on developments, particularly those that may be left on the hook for previous liabilities.
It won’t do any harm to KPMG, which has been charging an hourly rate of £361 for its efforts.
The clock may be reset, but time is marching on.
Also on TheLawyer.com:
- Firms named for allegedly not obtaining indemnity insurance have attacked the profession’s regulatorclaiming the process was unfair and slapdash
- The co-head of Herbert Smith Freehills’ (HSF) advocacy unit Murray Rosen QC has retiredfrom the firm to return to the bar
- The Ministry of Justice has fined Capita £46,139 for fatal flaws in its court interpreter service between May 2012 and November 2013