Ann: Appointment of Voluntary Administrators, page-74

> PWC will be taking a big chunk in healthy fees as their service.
Yeah I've seen many financial reports from administrators. The top guys tend towards charging $500-$1000 an hour, even their work experience kids get paid $150/h.

So many times I've read one and basically thought that appointing an admin was a great way to launder the funds out of the company back into your own pocket, in effect, they tend to read something like "there was 700k in assets, $900k owed to creditors, after paying the administrators $450k there is $250k left to pay the debts"


I'm exaggerating very slightly, but not that much.