‘It is important to relay complex points in succinct words’
Jason Ainge, a partner at Begbies Traynor, is a licensed insolvency practitioner in the Leeds office and has extensive corporate and personal insolvency experience and specialises in contentious insolvency involving an element of fraud, asset tracing, forensic investigations and litigation. Jason enjoys a challenge and an opportunity to find innovative solutions to complex issues, cutting to the nub of the matter at hand.
Most of my work is of a contentious nature, involving investigations into alleged frauds and pursuing the recovery of assets. This brings a wide variety of challenges, requiring detailed thought and a considered approach to try and out-fox opponents, which I enjoy, particularly where the results we achieve return funds to creditors.
In difficult times, there are always people who are willing to push the envelope and stray into areas of questionable practice. We have seen this with the widely reported abuse of the various Government support schemes, which still has some way to run, including investigations into companies that applied for COVID support and were allowed to subsequently be dissolved, whilst the use of these support loans has regularly been in the interests of parties other than company creditors. There are also a number of business sectors which are particularly susceptible to fraud, including the temporary labour supply market where there are large volumes of tax deductions from payments to staff or contractors which can be open to abuse.
Major changes over the last 5 to 10 years include legislative change impacting on the priority of certain debts and the introduction of Crown secondary preferential status. This has caused some uncertainty and, in a large number of cases, is likely to reduce the funds available for trade creditors. Often, this can bring about a lack of engagement from creditors, and, particularly when investigating frauds, the engagement of creditors can regularly turn up nuggets of information that help to unlock and progress investigations, where there can otherwise often be a lack of available records to help.
In our sector, where there is a large amount of jargon, but also a lot of interaction with the public. It is important to relay often complex points in easy to understand and succinct words. Across my team we tend to abide by KISS – Keep It Simple, Stupid!
Never under-estimate the importance of file notes to document discussions and actions, particularly when dealing with culpable individuals who may seek to manipulate situations to suit their own narratives and stymie investigations. Planning and prioritising is also a skill to try and grasp as early as possible as it only gets more challenging as you progress up the career ladder!
I have been fortunate to work with a number of well-respected IPs, with varied approaches and specialisms. I have sought to cherry pick what I consider to be the ‘best bits’ of their approaches in order to shape my own.
I am glad to live in Yorkshire where we have access to beautiful countryside on our doorstep. When I can find the time, I like to get out on my mountain bike and I also enjoy going to the gym to try and work off some of the lockdown weight that crept on!
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