Well someone has to benefit from all the misery. Administrators have been doing handsomely through the townturn. But its some of the older ones that provide the gifts that keep on giving. BDO has racked up £2.3m for its work as administrator and liquidator of collapsed Christmas savings company Farepak since it was appointed in October 2006.

Obviously feeling a little sensitive about fees at a time like this, BDO said in a statement:

‘All our fees and actions taken have been approved by the Creditors’ Liquidation Committee. We discuss our fees with them on a regular basis and work with them to establish and agree fees which are acceptable to both parties.

‘Our work on the administration was discounted by 10% and our work on the liquidation over the last two years has been discounted by 6.9%. In addition to this, we have written off £100,000 of fees generated by time spent assisting the Farepak Response Fund and minister for trade, investment and foreign affairs.’

Just saying.

But fair enough.

And to be even fairer, it’s chicken feed compared to the sort of fees that have been generated by some of the more recent collapses – PwC’s £154m on Lehman for example.

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