The administrators' report on the death of Halliwells has finally seen the light of day. And it makes for pretty miserable reading for the ex-firm's creditors who are owed £14.1 million between them.
Not content with stiffing its former staff, the ghost of law firm past has come back to bite its former suppliers. These include HMRC to the tune of £4.3 million. So that's another hole in the Exchequer which will have to be plugged with cuts elsewhere.
Also amongst those nursing Halliwells-shaped gaps in their accounts are St John Ambulance and several small businesses. According to The Lawyer, Pavarotti's Sandwich Bar was still supplying food to the firm's London office the day before it announced its intention to file for administration. Presumably the partners choked on their egg and cress sandwiches.
Everyone's favourite charity, the College of Law, is thought to be close to writing off the best part of £450,000 owed to it by the firm. As chance would have it, this is almost exactly what CEO and general fat cat Nigel Savage earned last year. Although the huge write-off is unlikely to mean an austere Christmas chez Savage.
Still, what of the students cut adrift by Halliwells before they even got their feet in the door? A spokeswoman for the College of Law told RollOnFriday that "the first priority for the College was to make sure that [they] were able to take their LPC exams this summer and we have given them extra careers support to help them find opportunities with other firms".
So finally some sign that the CoL is prepared to act like a charity after all.
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Not content with stiffing its former staff, the ghost of law firm past has come back to bite its former suppliers. These include HMRC to the tune of £4.3 million. So that's another hole in the Exchequer which will have to be plugged with cuts elsewhere.
Also amongst those nursing Halliwells-shaped gaps in their accounts are St John Ambulance and several small businesses. According to The Lawyer, Pavarotti's Sandwich Bar was still supplying food to the firm's London office the day before it announced its intention to file for administration. Presumably the partners choked on their egg and cress sandwiches.
Everyone's favourite charity, the College of Law, is thought to be close to writing off the best part of £450,000 owed to it by the firm. As chance would have it, this is almost exactly what CEO and general fat cat Nigel Savage earned last year. Although the huge write-off is unlikely to mean an austere Christmas chez Savage.
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A noticibly thinner cat yesterday |
Still, what of the students cut adrift by Halliwells before they even got their feet in the door? A spokeswoman for the College of Law told RollOnFriday that "the first priority for the College was to make sure that [they] were able to take their LPC exams this summer and we have given them extra careers support to help them find opportunities with other firms".
So finally some sign that the CoL is prepared to act like a charity after all.