The three men placed in charge of Inverness Caledonian Thistle’s administration. Two of the men were involved in the liquidation of Rangers
The three men who will be involved in the administration of Inverness Caledonian Thistle have been announced.
Malcolm Cohen, Shane Crooks and James Stephen of BDO have been appointed as the joint administrators that will handle Inverness Caledonian Thistle’s administration.
The club have dropped to the bottom of League One on -3 and are 12 points behind Dumbarton who they travel to on Saturday.
Two of the administrators, Cohen and Crooks, were involved in the liquidation of Rangers in 2012.
According to descriptions on the BDO website, Cohen is the head of BDO’s National Cross Border and Contentious Insolvency team and specialises in working on complex international fraud-related insolvencies and securing recoveries for creditors. His assignments focuses on investigations, asset tracing and litigation, often of a cross-border nature.
He is also a lead partner of the firm’s dedicated Corporate Simplification team working with companies to streamline their corporate structure and implement solvent liquidations.
Crooks focuses on complex and contentious insolvency appointments featuring investigations, asset tracing and litigation, often of a cross border nature.
He previously spent 15 months on secondment at the Corporate Restructuring Unit of the Royal Bank of Scotland, dealing with distressed borrowers with syndicated facilities or bilateral facilities in excess of £20 million.
Stephen has over 20 years' experience in restructuring and insolvency.
The BDO description on the websites states he provides clear and constructive advice to a wide range of stakeholders, including financial institutions, management and creditors.
His work includes stakeholder management, structured refinancing as well as performing business reviews, and balance sheet restructuring.
He has extensive experience in providing both advisory and formal insolvency solutions and has particular understanding of managing the business review process.
Stephen also completed a secondment with the Bank of Scotland High Risk team, during which time he managed a portfolio of high risk connections within the Bank with a view to formulating strategy and returning a good book.
He is an insolvency license holder and where appropriate he takes formal insolvency appointments.
He also has experience in the care home, construction, energy and property sectors.
No announcements have been made as of Wednesday morning how administration will impact the club regarding job losses.
Read: Administrators take control of Inverness Caledonian Thistle - what happens now?
