The bills for lawyers and administrators to wind down Greensill Capital’s UK business are expected to come in at more than £30m for their first year of work alone, new filings show. Insolvency experts from Grant Thornton, which was appointed as administrator, have been charging £562 an hour, and racked up £2.9m in fees by mid-April. Three law firms have been recruited to help with the administration, including Simmons & Simmons, Herbert Smith Freehills and so-called magic circle firm Allen & Overy. Grant Thornton and Allen & Overy declined to comment. The Guardian also approached Simmons & Simmons, Herbert Smith Freehills for comment.

Source: The Guardian May 07, 2021 15:47 UTC