The idea
Quite Simply, i quite often, sadly, get Insolvency reports( do i need to?), containing a fairly complete state of affairs; in my experiance the Insolvency Practioner a self appointed preferential Creditor, absorbs whatever is available, and is it any wonder when a clerks time is charged at hundreds of pounds an hour and "Partners" time thousands…….if this was spread over the tabloids there would be lynchings, and rightfully so.
In the current ecanomic climate it would be an ideal opportunity to right a wrong, and apply restrictions on the as yed unrestricted group, I dont like quango any more than oyu do , but there needs to be a moderating "power", with real teeth!
Why is it important?
Because this group is syphoning off residual resourses from failed firms that in equity should be distributed to the rightful creditors, or perhaps save the firm, not bleed it to make sure that it is dead!