Almost 50,000 people will be discharged from bankruptcy today, Big Four firm KPMG has estimated.
As part of transitional arrangements introduced under the Enterprise Act – which introduced the so-called ‘quickie banruptcy’ – thousands of people who would normally have been discharged after three years will now be discharged one year after the act came in.
About 42,000 will be discharged, KPMG has estimated.
The firm also says that dishonest and fraudulent bankrupts may have got off scot free as a result of the act.
Human rights legislation, combined with the Enterprise Act, have meant that dishonest dealings that took place before April 2004 and contributing towards the bankruptcy cannot be taken into account, KPMG says.
Andrew Howson joins the firm from EY, bringing experience in advising private equity and corporate clients across multiple sectors in the UK and Europe
Dennis Layton takes up the position on April 1 and will contribute to the firm’s goal of becoming the leading global professional services organisation by 2020
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'