BusinessBusiness RecoveryIndependent body should review IPs’ fees

Independent body should review IPs' fees

Debt collector calls for a new body to watch over fees charged by insolvency practitioners

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.

Related Articles

SFP sells off Pixel Projects and saves all staff

Business Recovery SFP sells off Pixel Projects and saves all staff

1y Stephanie Wix, Writer
Administrators from KPMG appointed to City Motor Holdings

Business Recovery Administrators from KPMG appointed to City Motor Holdings

1y Richard Crump, Writer
Begbies Traynor appointed administrators of William Anelay

Accounting Firms Begbies Traynor appointed administrators of William Anelay

1y Richard Crump, Writer
Smith & Williamson appointed administrators of 4Children

Accounting Firms Smith & Williamson appointed administrators of 4Children

1y Richard Crump, Writer
Cowgill Holloway concludes sale of film distributor Metrodome

Accounting Firms Cowgill Holloway concludes sale of film distributor Metrodome

1y Richard Crump, Writer
FRP Advisory sells Harland Machine Systems to Accraply Europe

Accounting Firms FRP Advisory sells Harland Machine Systems to Accraply Europe

1y Richard Crump, Writer
CVR Global sells DMG Steelworkers out of administration in pre-pack deal

Accounting Firms CVR Global sells DMG Steelworkers out of administration in pre-pack deal

1y Richard Crump, Writer
CVR Global administrators appointed at foreign language school

Accounting Firms CVR Global administrators appointed at foreign language school

1y Richard Crump, Writer