LONDON Commodities trader
Balli Group Plc has gone into administration and appointed
consulting firm Deloitte Touche Tohmatsu Ltd. to oversee
proceedings, a company source confirmed April 2 to AMM
sister publication Steel First.
London-based Balli Group, which
trades steel, nonferrous metals, chemicals and agricultural
products, on March 20 appointed Deloitte Touche as
administrator to Balli Group, Balli Steel Plc and Balli Trading
"The administrators now manage
the affairs, business and property of the companies and are in
the process of sending formal notification to affected
parties," Deloitte Touche said, adding that it was assessing
Balli Groups financial position and would present formal
proposals in "due course."
The mandate doesnt extend to Balli Groups
A version of this article was
first published by AMM sister publication Steel First.