PJT Partners, a US-based advisory firm spearheading restructuring of Kenya Airways’ (KQ) will get the biggest share of the Sh1.4 billion budgeted for payment to transaction advisers.
According to Business Daily, the American firm will receive the huge payout compared to other firms appointed as restructuring advisers to the airline.
PJT Partners will also pocket expenses incurred during the negotiations as part of the colossal payment.
Kenya’s highly ranked audit firm Deloitte will also receive payments from the sh1.4 billion for its role as the carrier’s independent transaction adviser.
New-York based White & Case -KQ’s international counsel and Coulson Harney -their local lawyers will have a share in the sh1 billion set aside for paying legal fees to the two outfits that offered legal advisory during the airline’s restructuring process.
The parameters for paying out the respective firms involved in the restructuring process have been spelled out.
They will be paid according to the amount each company invoiced and also the incidental costs incurred when the legal and transaction advisers were negotiating with the airline’s lessors, the government, and the Kenyan banks.