Accountancy

KPMG says Silentnight pensioners were not harmed by its misconduct

KPMG has argued it should receive a £5m fine for its wrongdoing

KPMG is facing a fine in excess of £15m for helping private equity fund HIG shed Silentnight’s pension fund “as cheaply as possible” when it bought the company in 2011
KPMG is facing a fine in excess of £15m for helping private equity fund HIG shed Silentnight’s pension fund “as cheaply as possible” when it bought the company in 2011 Photo: Jack Taylor/Getty Images

A lawyer for KPMG has denied that pensioners from mattress company Silentnight were harmed because of misconduct by one of its former restructuring partners.

KPMG is facing a fine in excess of £15m for helping private equity fund HIG shed Silentnight’s pension fund “as cheaply as possible” when it bought the company in 2011, a barrister for the Financial Reporting Council told a tribunal on 21 June.

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