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23 May 2011
AN INDEPENDENT BODY should be created to review the fees charged by insolvency practitioners, according to debt recovery business Daniels Silverman.
The firm saw "regular instances" of poor service provided by insolvency practitioners to its clients owed funds by insolvent individuals and businesses, reported CPI Financial.
"Often when a business goes bust any dividends received by unsecured creditors (if there are any) are lower than they should be as a result of high IP fees and assets being sold under value, or because action is taken by IPs to favour the secured creditors," said Daniels Silverman MD Carole Hughes.
The government is reviewing the governance of the insolvency profession.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment
EVIDENCE OF 'NOT QUALITY IN EVERYTHING E&Y DO'
'QUALITY IN EVERYTHING WE DO'. I WILL BE CONTACTING THE TRADING STANDARDS COMMISSIONER WITH EVIDENCE THAT THIS IS A MISLEADING STATEMENT/STRAPLINE!
Is Vince Cable the Minister wishing to review the process by which IPS charge what they like. The savings that should have been possible would have save the repossession of our family home!! So 'fees are not a victimless crime'!!
Kind regards,
BE
Posted by: BRIDGET EDWARDS, 24 May 2011 | 14:22