WM Proserv, an insolvency practice with offices in Leicester, Dubai and London, began a liquidation process in September last year, with Matthew Chadwick and Jo Wright from accountancy firm BDO appointed as liquidators.
At a court hearing on December 13 last year, the insolvency cases which were currently being worked on by WM Proserv were then split between Grant Thornton and Griffins.
Kiran Mistry, who was one of three equity partners at WM Proserv, is also now personally bankrupt and insolvencynews.com understands that his estate is currently being managed by an official receiver, with a view to appointing an insolvency practitioner as a trustee.
Mistry, who was head of insolvency and corporate recovery at WM Proserv, confirmed to insolvencynews that around 137 cases had been taken on by Grant Thornton. Stephen Hunt, who is also rumoured to be taking cases
His cases are believed to be a mixture of administrations, liquidations and receiverships. He told insolvencynews.com that he was “currently taking time out of the insolvency profession” to consider his options.
The remaining two equity partners at WM Proserv were Rakesh Patel, head of taxation, and Rohit Khandhia, head of audit and assurance.
The latest news on Mistry’s bankruptcy will be covered in the upcoming edition of Insolvency Today.