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BAP client account decision goes to court
17 Mar 2008
KPMG appeared as facilitators for the court, insisting this was a non-adversarial case and its only responsibility was to ensure the facts were presented to the judge. Those facts showed the separate account called BA Peters Client Account held £651,000, while KPMG had received claims in excess of £1m for unprovided goods and services or incomplete transactions.
Following the sitting at the Royal Courts of Justice in the Strand in London, the judge will now consider his decision and make his judgement known 'in weeks'. 'We all await the verdict,' said a KPMG spokesman.
While there are many disaffected owners awaiting the judge's decision, it's likely his judgement will have wide-reaching ramifications for the entire leisure marine industry.
The British Marine Federation (BMF) has carried out an enormous amount of work on the protection of client monies and - like those unfortunate members of the public caught up in this disappointing affair - awaits the judge's decision with interest.
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