Exact(17)
"Following the announcement by the Swiss National Bank last week, Alpari UK sustained substantial losses as a result of negative client balances, and was faced with no other choice but to enter into special administration," said Richard Heis, one of the joint special administrators.
Special administrators do have to consult even under the powers in clause 118.
There are also "special administrators" in London, since many of the trades were carried out through a British subsidiary.
KPMG was appointed "special administrators" to the UK arm, for which it has little hope, however, of securing a buyer.
He then selected eight "special administrators" as Medica's board of directors, and the court signed off on them the next day.
A team of restructuring experts from KPMG were appointed as special administrators to the firm, which was scuppered by the Swiss central bank's decision last week to abandon its attempt to peg the franc to the euro.
Similar(43)
In local administration, a special administrator was set up in Kamakura to control the 10 provinces of the Kantō area.
The closures are part of an overhaul proposed by a special administrator after the nearby South London Healthcare NHS Trust (SLHT) went into administration as a result of it losing around £1.3m a week.
A special administrator was appointed by the court soon afterwards.
ENRICO BONDI, special administrator of the bankrupt Parmalat group, is a busy man.
Maybe Enrico Bondi, special administrator of Parmalat, has done too good a job of cleaning house.
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