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As news reaches the blog that KPMG have used a pre-pack administration to save 4800 jobs at an East London Bus Company, we also hear that insolvency blogger and insolvency practitioner Mr Chris Laughton has been appointed to the post of president of INSOL Europe. Congratulations to the employees and Mr Laughton! In less positive news Ireland apparently need new bankruptcy provisions following some critical evaluation by Moodys. Finally, it has been reported that the Lehman administrators have earned £262,000,000 in fees. Cripes! As Penfold or the failed bank's creditors might say!
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...