For whom the bell tolls

It’s not customary to feel much sympathy for people who make their living administering failed businesses (especially if you’re one of the creditors). However Obiter is sparing a thought today for RSM Tenon, which while busy dismantling Midlands firm Challinors itself found insolvency looming. It yesterday appointed insolvency practitioners from Deloitte as administrator.

The potential legal complications of a firm’s administrator being itself in administration makes Obiter’s head spin, but presumably the potential for litigation increases exponentially with each tier of insolvency. We hope Deloitte is on a sound financial footing.