The Joint Administrators' proposals for the eight ISG subsidiaries that entered administration on 20 September have now been published by EY. The document provides an overview of the events that led to the administration, together with a final statement of affairs for each company. The eight subsidiaries jointly owed £1.1 billion, and EY has confirmed it will only recover £35 million from cash and assets, meaning that there is “insufficient property to enable a distribution to be made to unsecured creditors”.
Source: Build UK 5.12.24
