The ongoing battle between liquidators and auditors over the release of
client information has produced a mixed outcome in two recent court cases
involving some of the UK’s largest accounting firms.
In a court battle between Begbies Traynor, joint liquidators of The Accident
Group, and former auditors KPMG, the judge ruled that Begbies could have ‘almost
unfettered’ access to documents and emails relating to KPMG’s work for the
troubled claims company.
However, auditors BDO Stoy Hayward recently won a contrasting decision,
allowing the firm to withhold documents it produced while acting as auditor to a
company that went into liquidation seven years ago.
The liquidator to XL Communications Group, Elliot Harry Green, appealed
against a court ruling refusing him an order for the documents to be handed
Mr Justice Kitchin, sitting in the Chancery Division of the High Court, said
Green had failed to show why he needed the documents requested under section 236
of the Insolvency Act 1986.
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens
Team Rock the publication of classic rock is in administration with FRP Advisory