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Numerous 'perverse outcomes' prompts parliamentary review into insolvency


Numerous ‘perverse outcomes’ prompts parliamentary review into insolvency
Numerous ‘perverse outcomes’ prompts parliamentary review into insolvency
Back-bench MPs call for evidence
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The All-Party Parliamentary Group (APPG) on Fair Business Banking, supported by law firm Humphries Kerstetter LLP, is to conduct an in-depth investigation into standards in the UK insolvency profession.
The APPG on Fair Business Banking is concerned there might be systemic issues with how the corporate insolvency sector is regulated after hearing a number of worrying cases, according to Heather Buchanan, executive director, policy and strategy at the APPG.
“There’s no ombudsman and there’s no real mechanism to challenge which just leads to, from what we’ve seen, very perverse outcomes. And sometimes, we certainly see stuff which a layperson would say looks very wrong,” she says. ....

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