 James Henderson |
The administrator winding down Bell Pottinger want its former CEO James Henderson to pay about $525K for profits that were wrongly taken from the UK firm before it collapsed in the aftermath of the racist campaign that it ran in South Africa on behalf of the Gupta family.
Professional services firm BDO sent letters seeking cash to Henderson and 40 other BP partners according to a report in today’s Times of London.
BDO says the partners must cough up payments they received for anticipated profits that never materialized.
It claims to have conducted a “rigorous investigation” into the partnership and is seeking the monies “in accordance with our duties as administrators."
BP owes creditors about $9M.
Henderson, who was BP’s largest shareholder, stepped down before the firm collapsed in September 2017.
He claimed to have nothing to do with the Gupta effort, which was designed to divert attention from its corrupt ties to the government of President Jacob Zuma, who resigned in February 2018 after a vote of no-confidence in parliament.
Public Policy Holding Company registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
WPP suffered a 10.2 percent drop in 1H revenues to $6.7B and a 47.8 percent plunge in operating profit to $297M.
Interpublic reported Q2 net revenues dropped 6.6 percent to $2.2B and operating income tumbled 23.4 percent to $243.7M. 
WPP has adopted a gloomier profit and sales forecast due to a deteriorating Q2 financial performance triggered by weak client spending as companies cope with the challenging economic backdrop.
