Why is Administrator of Newbridge Credit Union paid so much?

Discussion in 'Credit Union issues' started by Rudolph, Jan 14, 2012.

  1. jack2009

    jack2009 Frequent Poster

    Posts:
    758
    Maybe in an ideal world it would be, but unfortunately in real life its not!

    Also, personally I believe that the big issue is not the rate that any of these firms charge per hour but what they deliver for these rate. In that regard, I understand that the Joint Administrators of Quinn were critisised/questionned about their fee applications to the High Court.

    To compound problems, the process itself is very inefficient and does not necessarily add any benefit the company/creditors!
     
  2. smeharg

    smeharg Frequent Poster

    Posts:
    203
    There's a "get out of jail free card" that can be played in emergency situations.

    Perhaps the central bank relied on this in this case.