September 12, 2017 / 4:28 PM / 2 months ago

BRIEF-BDO appoints administrators to Bell Pottinger for transfer of clients

Sept 12 (Reuters) - BDO LLP

* BDO APPOINTED ADMINISTRATORS TO BELL POTTINGER

* BDO - BELL POTTINGER HEAVILY FINANCIALLY IMPACTED BY THE ISSUES RESULTING IN LOSSES OF CLIENTS, PARTNERS AND STAFF AND CULMINATING IN THE EXPULSION FROM PRCA

* BDO - NOTICE OF INTENTION TO APPOINT THREE PARTNERS IN BDO AS ADMINISTRATORS WAS FILED ON THE EVENING OF FRIDAY 8 SEPTEMBER 2017

* BDO - APPOINTMENT BECAME EFFECTIVE TODAY, 12 SEPTEMBER 2017

* BDO - WORKING WITH REMAINING PARTNERS AND EMPLOYEES TO SEEK ORDERLY TRANSFER OF BELL POTTINGER’S CLIENTS TO OTHER FIRMS TO PROTECT AND REALISE VALUE FOR CREDITORS

* BDO - HAVE TAKEN APPROPRIATE STEPS TO PRESERVE THE RIGHTS BELL POTTINGER MAY HAVE IN RELATION TO THE FAILURE OF THE BUSINESS (Bengaluru Newsroom)

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