PracticeConsultingIll-informed on insolvency.

Ill-informed on insolvency.

I cannot let Finian Manson’s ill-informed attack on the insolvency profession pass without comment (Letters, page 13, 5 July). Does he not know that the 1986 Insolvency Act was brought in to regulate insolvency because previously virtually anyone could be appointed, which resulted in too many cases of creditors’ funds being plundered? Insolvency practitioners do not destroy businesses; the damage has already been done. Most of us would prefer to be rescuing businesses but for small companies the rescue procedures have been cumbersome and the law has become more complex with reported cases seeming to reverse earlier decisions. What intrigues me about Mr Manson’s letter that he does not say how he came by his opinion; what insolvency matters has he been involved in and in what capacity?

What happened to upset him so? Perhaps he was criticised by an insolvency practitioner. I would dearly love to know.

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