Halliwells collapsed owing £14.1m
More than £14.1m is owed to trade creditors following the collapse of law firm Halliwells, a report has revealed. The document, prepared by joint administrators Dermot Power and Shay Bannon of accountancy firm BDO, reports the highest sum of £4.3m is owed to HM Revenue and Customs.
A further £17.7m was owed to the Royal Bank of Scotland.
Other creditors include Bruntwood, the College of Law, King Chambers, ANS Group, Airangel and TD Travel Group while the administration process has so far cost £1.13m.
The report says the firm suffered from excessive property costs relating to remaining leases on other sites following its headquarters move to 3 Hardman Square in Spinningfields in December 2007. It also had a drop in turnover following the departure of partners and staff.
The company also had offices in Liverpool, Sheffield and London when it collapsed in July. Its assets were later taken over by Hill Dickinson, HBJ Gateley Wareing and Barlow Lyde & Gilbert.
