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What the hell is going on here?

How can this be right? A new firm purchases WIP at 30p in the £ and basically pockets any profit! Bet this WIP figure didn't include any success fees either!

Yes, jobs have been saved but lets be honest about what has really happened here. New firm has bought the WIP on the cheap and the creditors can go and whistle.

At what point do we start to look at what type of deals Mr Hoskings is doing at Quantuma? How can £300K in fees be justified against a WIP and disbursements recovery of only £540K? In truth, I bet that Mr Hoskings' winding down costs are pretty much the same as the actual WIP recovery!

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