Insolvency man gets £14,000 rap on the knuckles

A LIVERPOOL insolvency practitioner has been fined a total of £14,000 for breaching standards of professional behavior.

Gerard Keith Rooney failed to co-operate with the Insolvency Practitioners Association’s investigation by not responding in a timely manner or at all when chased for a response between June 25 2014 and February 4 2015.

He also failed to comply with the fundamental principle of professional competence and due care section 104A of the Insolvency Act 1986 when, in his role as a liquidator of a company, he failed to submit progress reports to Companies House.

Rooney was found liable to disciplinary action under the IPA’s articles of association.

The IPA’s disciplinary committee imposed an order that Rooney be severely reprimanded, fined £10,000 for the non response complaint and £4,000 in relation to the progress report complaint. He was also ordered to pay costs.