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FOR IMMEDIATE RELEASE Landmark Judgment on Transfer OrdersCommissioners of Customs and Excise v Allen, Landsman and SeftonTimes Law Reports 20th March 2003 This was an application to review a block transfer ordering that an insolvency practitioner be removed and replaced by another. The court held that it ought to review such an order on the basis that if it had known of the creditor's objections at the time of the order, would it have still made the order that was the subject of the review. In this instance, the court found that this was a case and removed the practitioners who had received cases from a practitioner who has subsequently been made bankrupt and barred from acting as an insolvency practitioner.
This case involved several members of the association working together with HM Customs. The effect of the order will be to assist regulators and creditors in future actions against rogue insolvency practitioners. Where such a practitioner attempts to transfer his insolvency work whilst he is the subject of regulatory or other pressure, it is likely to be the case that the practitioner can be prevented from passing the work to an associate. The court has shown that it is willing to step in and ensure that an independent investigation takes place, where the circumstances are appropriate. For More Information Contact: |
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