Interserve: a calamity mostly created in the boardroom

Interserve: a calamity mostly created in the boardroom
 

“I voted for Donald Trump,” said the representative for Coltrane, flippantly, when asked after Interserve’s shareholder meeting how he cast the New York hedge fund’s critical 27% stake in the outsourcing firm. Maybe he did, but in this case he voted against a board-backed rescue deal and helped to send into administration a company employing 45,000 people in the UK.
Rapid corporate re-invention, via a pre-pack arrangement in which Interserve’s lenders will take control and operations will continue, is a saving grace from the government’s point of view. So, too, the easy the transfer of the... read more

 
15 March 2019 in Politics, Views: 80
Source: Guardian
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