Unsecured Creditor
Victims of Investment Scam Receive £2 Million Compensation
Not all superhero’s wear capes. One such tale revolves around John Gerard Metcalfe, from Essex whose actions led to a £2 million loss for several individuals. Metcalfe’s fraudulent investment scam ultimately brought him to bankruptcy and legal action in 2013. However, justice has a way of catching up, and in 2017, he was convicted of…
Read MoreBenefits of a creditors’ committee
Creditors in a statutory insolvency procedure should establish a creditors’ committee if they want to influence proceedings, set the basis for the insolvency practitioner’s fees, and increase dividends for the general body of creditors. A creditors’ committee consists of 3 to 5 people who are responsible for setting the basis of the insolvency practitioner (IP)’s…
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