Alix Partners

[Guest]

Alix are the company managing the TC administration, they did a study a day or two before it collapsed to work out where the equity was in the company and the scale of payouts they might have to deal with.

They've published/leaked bits of it today. It's sobering reading.

Not counting cash in the bank the only assets of value in TC amounted to 59m at the point it collapsed.

The are suggesting that anyone who is not a protected creditor (so not HMRC, bank or staff member) will get about 2.3p for every £1 they are owed (this doesn't apply to ATOL covered purchases or those where the customer is covered by their own insurance or s75)

Some big institutions have gotten heavily burned here