Complex administrations can take a while to sort out. Ask anyone on the Lehman job when they think the last piece of the puzzle will be dealt with and they’ll probably mention that some Enron stuff is still being worked on and Lehman was much bigger.

Be that as it may, one case that has been running for 35 years has finally ended, with liquidators UHY Hacker Young paying out the final dividend to creditors last month reports Accountancy Magazine. Ladislav Hornan, the sole surviving liquidator of Apal who, in the 35-year case, has gone from administrator to managing partner of the firm said:

‘This insolvency shows that when a bank fails with significant assets overseas and there are irregularities the process of getting the creditors’ money back can be complex and lengthy,’ Hornan said.

‘When you think of the greater complexity of the modern banking system, creditors could be much worse off if a similar situation happened today. Thirty-five years is a long time to wait for your money.’

That might just bring junior PwC’ers out in a sweat.

35-year insolvency case comes to a close [Accountancy Magazine]