Administrators begin Wenham forensic probe

John Joyce, Wenham Major co-owner, still in hospital

A forensic examination of computers at collapsed Top 50 accountancy firm Wenham Major is under way, as administrators turn their attention from protecting jobs and clients to returning funds to creditors.

Administrators from Vantis are shifting their attention after selling the core accounting business to RSM Bentley Jennison and preparing a deal to sell the insolvency practice to Kiran Mistry, a senior manager in the practice. That deal is subject to contract.

Wenham Major entered administration last week following a statement that joint owner Ammar Azam had unearthed ‘financial irregularities’ in the Wenham Major Private Client subsidiary. The private client arm was founded by Azam’s fellow joint owner John Joyce, who is understood to be in hospital.

Wenham Major’s main creditor is HBOS, the firm’s bankers, who are understood to have personal guarantees from both Azam and Joyce.

Administrators are understood to be preparing to talk with both partners as they look into the collapse of the firm.