Lloyds set to lose £57m from Tenon collapse

Kashflow logo
Share this content

Creditors and shareholders in RSM Tenon, the collapsed accountancy group, will get nothing back while Lloyds is likely to lose up to £57m of the debt owed by Tenon.

report from joint administrators Matthew Smith, Nicholas Edwards and Clare Boardman of Deloitte said that when RSM was sold to Baker Tilly in August in a pre-pack deal a settlement was made with the bank to repay £22m of the £86m debt it was owed plus a £7m working capital adjustment.

Administrators said that there is no...

Please Login or Register to read the full article

The full article is available to registered AccountingWEB.co.uk members only. To read the rest of this article you’ll need to login or register. Registration is FREE and allows you to view all content, ask questions, comment and much more.

About Nick Huber

Nick Huber profile image

I’m a specialist business journalist and have a particular interest in tax and technology. 


Please login or register to join the discussion.

25th Oct 2013 09:24


Thanks (0)