‘ Lifting the mist’
The Official Receiver Richard Gill
The Insolvency Service “We are a Government agency that helps to deliver economic confidence by supporting those in financial distress, tackling financial wrongdoing and maximising returns to creditors.”
Official Receivers We investigate all sorts of cases. Big, small, the good, the bad and the ugly.
Purpose of OR's Investigations • Official Receivers investigate to: • Administer the insolvency (debt relief) • Realise/uncover assets for creditors • Further investigations to take civil action or make criminal referral.
Who? How? Official Where? Receiver When? Why? What?
What OR investigations look like • Initial information gathering • Interview (telephone/in person) • Analysis of financial records • Enforcement procedures (court action) • Further investigations?
Non-cooperation • Compulsive powers i.e. a legal requirement on bankrupt/director to cooperate with the OR • Enforce these at court. • Range of powers in Insolvency Act 1986 • Public Examination • Private Examination of third parties • Suspension of Discharge • Orders for compliance • Committal for contempt
Official Receiver: Outcomes of Investigations 1 As trustee/liquidator: • Administer the insolvency and report to creditors • Realise and distribute assets • Take court action to recover money • Appointment of insolvency practitioner
Official Receiver: Outcome of Investigations 2 Further investigations: • Civil investigation • Bankruptcy Restrictions Orders (and DRROs) • Disqualifications (will move internally to Investigations directorate on 1 July 2019) • Referral to criminal investigators
Contacts Richard.gill1@insolvency.gov.uk
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