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... You can carry on reading for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...