Insolvency specialist fined for IVA breach

A LANCASHIRE insolvency practitioner has been reprimanded and fined £2,500 plus costs.

Richard Hilton Savage failed to issue a notice of breach until 12 months after being made aware a significant creditor had not been disclosed by a debtor in her IVA proposal. As a result the IVA failed at a subsequent meeting of creditors.

The ICAEW’s Investigation Committee concluded that Savage had rendered himself liable to disciplinary action in respect of a failure to issue a breach notice.

The committee no... For the full story register now for free or login below...