Atlantic Computers and British & Commonwealth Holdings corporate collapse reaches settlement
One of the largest and best-known corporate collapses of the 1980s was the £1 billion demise of British & Commonwealth Holdings.
The case, which involved six parties was due to be tried over 15 to 20 months at a cost of many tens of millions of pounds. We were invited to intervene by some of the parties' representatives to advise and design a process capable of bringing this complex dispute to closure. Over a period of 15 months, we worked with the parties to develop and engage in a process which led to the eventual settlement of the dispute.
One of the receivers said 'CEDR should be enormously proud of what has been accomplished. We are very pleased that this lengthy and expensive litigation has been brought to an end and that a substantial dividend can now at last be paid to creditors'.