Insolvency Practitioners: A Corporate Killing
Do Insolvency Practitioners measure up to the high standards expected of them when they are called in to a stricken business? Allan Urry examines concerns that some IP's don't always act in the best interests of creditors who are owed money when companies fail. Are landlords right to complain they've been getting a raw deal because some corporate undertakers side too much with their retail paymasters, who are pushing for reduced rents because their businesses are in trouble.
The Office of Fair Trading is calling for far reaching reforms amid concerns about high fees and low recovery rates for some creditors. So is there proper oversight of a profession which takes a billion pounds in fees each year, but isn't subjected to much public scrutiny?
PRODUCER: Paul Grant.