Felled broker account row

Marion Dakers
THE ADMINISTRATORS of the unsold parts of Seymour Pierce are trying to persuade BNP Paribas to take a hit on £450,000 it has with the stock broker in a trading account, papers published yesterday show.

BNP Paribas has asked Grant Thornton to pay it a £420,000 termination fee but the administrators have deemed this “disproportionate in the circumstances”, with neither side appearing willing to give ground.

Grant Thornton also said it knows of at least one party interested in buying Seymour Pierce’s two per cent stake in Cardiff City FC.