Grant Thornton8 Dec 2015 16:49
Apart from a minor loss of reputation, as all large firms have skeletons emerging on a regular basis, their indemnity insurers will settle any claims & the loss to GT will be their excess & a possible premium hike .The partners generally will hardly feel it although the partner responsible,depending on seniority and his other clients, could be booted out ( quite rightly).Partners at GT will not be earning 7 figures , apart from, maybe, the managing partner and the odd "high flier".If they are found culpable it would be great to think that the system would compensate us-but it wont.We need to be making spurious mis selling claims or personal injury claims to get any easy money.I am still fuming over how easy it appeared to be for our whole executive team to rob us , and everyone else, blind without anyone noticing apart from a few shorters and a tiny US based hedge fund-all of whome, I believe, got very lucky.