ThisisLondon.co.uk claims the flamboyant former chief executive petitioned for his own bankruptcy. Bright’s biggest creditor is believed to be HSBC, which is now suing him for more than £4.28m. His other assests are said to include an £11m pension fund and his Kent home.
Independent appointed liquidators from PricewaterhouseCoopers in June following its decision to suspend the writing of new business. Speculation mounted over the state of the company after external actuaries from Watson Wyatt found large claims had not been entered into the insurer’s accounting system.
Meanwhile, PwC this week chose Ken Blanc to succeed John Blakemore as chief executive as Independent’s current chief executive. Blanc, an internal appointment, will oversee the group in run off – a position where the insurer cannot write new business and relies on its assets to pay claims.
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice