Auditors Win £33M Fees For Handling Thomas Cook Collapse
Law360, London (October 5, 2020, 4:18 PM BST) -- A judge awarded accountants overseeing Thomas Cook's insolvency £33.8 million ($44 million) in fees on Monday for sorting through the travel giant's "complex" corporate structure following its controversial collapse last year.
Thomas Cook's collapse sparked anger, as lawmakers held hearings and regulators launched probes into the group's accounting practices. (AP Photo/Alastair Grant)
Insolvency court Judge Mark Mullen said the fees run up by AlixPartners and KPMG were warranted given the scale and scope of liquidating 26 companies within Thomas Cook Group PLC umbrella.
Monday's order allows AlixPartners to walk away with £23.2 million pounds for 47,700 hours of work since July...
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