Sentanta Failed Owing £550Mn. Administrator Deloitte still raises Partner rates to £785 an hour
The British arm of Setanta, the sports broadcaster, owed almost £550m when it collapsed last summer, according to the final report from Deloitte, its administrator.
The British arm of Setanta, the sports broadcaster, owed almost £550m when it collapsed last summer, according to the final report from Deloitte, its administrator.
Deloitte charged almost £900,000 for 10 months’ work to wind up the company. The firm raised its rates in January so that partners charged up to £785 an hour.
Setanta had £15m of cash, but some of that has been reclaimed by subscribers. Deloitte raised £433,000 by selling the customer database and £185,000 by selling transmission slots. The administrator is still waiting to hear about the taxman’s challenge to a £4.3m Vat claim.
