Special Administrators appointed to Worldspreads Limited
Upon the application of the directors of Worldspreads Limited, the High Court has today appointed Jane Moriarty and Samantha Bewick of KPMG LLP as joint special administrators of Worldspreads Limited, under the Special Administration Regime (SAR). Worldspreads Limited is a wholly owned subsidiary of Worldspreads plc, a company incorporated in Dublin, Ireland.
The administration of Worldspreads Limited follows the discovery of accounting regularities which the company became aware of during the course of Friday 16 March 2012. Following this it quickly became apparent that there was a shortfall in client monies and the directors and their advisors concluded that the best course of action, in order to mitigate losses for clients, would be to place the company into special administration.
For all non-press queries, please contact:
020 3284 8829
The administrators will respond to your query as soon as possible.
Press requiring further information please contact:
Sorrelle Cooper, Senior PR manager, KPMG in the UK: +44 20 7694 8527
Notes to Editors:
About KPMG
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with nearly 11,000 partners and staff. The UK firm recorded a turnover of £1.6 billion in the year ended September 2010. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have more than 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.
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