Post by alfie on May 1, 2021 7:52:58 GMT
I recognise there are much better qualified individuals (namely mousy) to orchestrate such action. However given there appear to be genuine concerns regarding the RSM treating Creditors recovered funds as fees. (an allegation which might be levelled at the industry in general)
Should we make a collective complaint to the Insolvency Practitioners Association?
Questions I would have -
Does the Association actively monitor its members recovered funds to fees? What checks and balances are in place to ensure, creditors are treated fairly?
I am aware that when a person incurs legal costs if they query their Solicitor’s bill, they are entitled to proceed to a taxation hearing under the Civil Procedure Rules. The bill is then scrutinised by a District Judge and the solicitor must justify their costs and disbursements. Perhaps the Association should consider such a remedy for creditors who believe their dividends have been unfairly reduced by excessive fees.
Regardless, I believe it is only right and proper the Association carries out a full review of the fees charged by RSM in this case & in the past.
Given creditors can only complain to the IPA about something that happened in the past 3 years, time may be of the essence.
Given these wider concerns; we should request that the Secretary of State for Business, Energy and Industrial Strategy - Kwasi Kwarteng and Sarah Munby take a personal interest in the case so they can attain a greater understanding of the practical workings of the insolvency industry.
We should also legitimately inform the press that we have asked the two above individuals to personally look into this. This should ensure this is properly investigated. We could also lobby MPs to question Kwasi in the house given we have requested he personally looks into the scandal.
Thoughts
Should we make a collective complaint to the Insolvency Practitioners Association?
Questions I would have -
Does the Association actively monitor its members recovered funds to fees? What checks and balances are in place to ensure, creditors are treated fairly?
I am aware that when a person incurs legal costs if they query their Solicitor’s bill, they are entitled to proceed to a taxation hearing under the Civil Procedure Rules. The bill is then scrutinised by a District Judge and the solicitor must justify their costs and disbursements. Perhaps the Association should consider such a remedy for creditors who believe their dividends have been unfairly reduced by excessive fees.
Regardless, I believe it is only right and proper the Association carries out a full review of the fees charged by RSM in this case & in the past.
Given creditors can only complain to the IPA about something that happened in the past 3 years, time may be of the essence.
Given these wider concerns; we should request that the Secretary of State for Business, Energy and Industrial Strategy - Kwasi Kwarteng and Sarah Munby take a personal interest in the case so they can attain a greater understanding of the practical workings of the insolvency industry.
We should also legitimately inform the press that we have asked the two above individuals to personally look into this. This should ensure this is properly investigated. We could also lobby MPs to question Kwasi in the house given we have requested he personally looks into the scandal.
Thoughts
