Axiom directors look to replace receiver KPMG with Grant Thornton

In a letter to shareholders seen by IFAonline, the fund's directors stated that they continue to believe that KPMG is the appropriate party to act as receiver of the fund, and that "all the arguments against the appointment of KPMG have little or no merit". However, they have agreed to recommend Grant Thornton to the court instead as they had become aware - via law firm Harneys, which represents some investors - that most shareholders support the view KPMG is not the appropriate firm to act as receiver. Questions have been raised over KPMG's independence in the matter. Grant Thornton ...