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The entire Insolvency Practice "industry" is opaque and beyond archaic and is Nowhere Near Fit For Purpose, it is SO obviously rotten and needs replacing. Immediately.

It is not for me to design and implement a better solution, but I'll bet you my backside that there IS a far better way and certainly MUCH fairer solution.

I will also bet my backside that the various IPs and their "Professional Bodies" would scream blue murder and fight to the death any changes to their highly lucrative practices.

Just how does a £25-£30 per hour Admin. Assistant magicaly transform into a £200-£225+ per hour Admin Assistant when working on an insolvency case?

And the Courts and everyone else and their dog in positions to stop it, allow it!

26/5/23 @ 15:23 - "Withdrawals are unavailable at this time - they will be enabled once the current series of loan repayments have been made."


                                 May the farce be with you!

"1. Any such software is open to abuse (particularly in the case of a government shifting to the right and becoming increasingly authoritarian)."

Why single out The Right? 

I am FAR more concerned about a government shifting to The Rabid Left, they wouldn't waste time to "become increasingly authoritarian", they'd do it overnight!

IMHO.    
               

I bought Hinge's (George Logan) house in the early 80s. He'd been consistently targetted and robbed and the last time they tied him up and gagged him, he thought he was going to be murdered so put the place immediately on the market the next day. I had no idea at the time who he was (out of drag) although it was obvious he batted for the other side. Place was rather run down, which surprised me, and there were two or three heavily tattoed "rough" milling about when I went to view. George was from Glasgow or similar and these fellows apparently were just old school mates.

Last thing I heard was about 15 years or so ago when he was running a B & B in the countryside (in Portugal I think) with his partner.

Anyhoooo, point of this convoluted story. He agreed to sell for £X and ended up taking over 6 months to complete, whilst he looked for another place. This in the times of gazumping etc and I was getting rather concerned. We completed at 6 months, still at the *agreed price.

Perfect and honourable gentleman, very nice bloke.


* He had planted a small magnolia in the garden and at completion asked if he could take it with him. Of course I obliged.  

RIP George.

With all these IPs I have no doubt it's a ploy.

There is no other reason if you're performing the Administration even half competently.

Lots of disgruntled Investors phoning/writing/emailing and wanting action/answers = Kerching!!!

Money for very old rope ...........

Oh just bugger off bobo, without all the flouncing dramatics.    

Here's a question for you ilmoro.

Within any IP's organisation, their own, directly employed staff get paid, say, Ordinary Clerk, at £15 per hour.

But when that Ordinary Clerk happens to be working on an IP case, they are suddenly & magically promoted to Super Duper Clerk, and charged out at £100 to £200 per hour?

I don't know many Ordinary Clerks in the UK on £195,000 to £390,000 pa. (37.5 hour week)   Do you?

            

Reference / ChatGPT - "The average fee per hour charge-out rate for a clerk in an insolvency case in the UK can vary depending on factors such as the specific region, experience level, and complexity of the case. However, as of my knowledge cutoff in September 2021, the average charge-out rate for a clerk in insolvency cases in the UK ranged from £100 to £200 per hour. It's important to note that rates may have changed since then, and it's advisable to consult current industry sources or professionals for the most up-to-date information."