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Rogue practitioner has home searched in dosh hunt 4 January 2012

Mr Justice Roth at the Royal Court of Justice ordered the investigation after William Evan Price, of Abersychan, South Wales, failed to hand over insolvency records regarding cases he had previously handled.

Griffins – which specialises in investigating IPs – undertook the search after Price failed to respond to two court orders asking him to give up the information.

Licensed IP Stephen Hunt of Griffins – who was appointed successor practitioner to Price’s estates – has identified ‘missing monies and unauthorised remuneration amounting to over £200,000’.

He added that investigations are continuing but Mr Price is yet to provide an explanation. Price, formerly of WM E Price & Co, had his licence revoked by insolvency regulator, the ICAEW in March 2011.

Hunt explained he had failed to pay the fees received from undertaking bankruptcies directly into the Insolvency Services Account (ISA).

Licenced IPs have a duty to pay the money taken from bankruptcies into the ISA and from there take a fee for their work.

However, in a statement released by Griffins, Price ‘had failed on numerous occasions to account for monies received into estates and had also failed to repay remuneration that had been drawn without proper authority’.

Hunt confirmed he has made a criminal complaint and further action will be taken by Griffins over Price’s failure to comply with the court’s previous orders.

The ICAEW has confirmed to Insolvency News that Price’s licence was revoked last year. Price is yet to respond to calls from Insolvency News about the investigation.

By Andy Pearce

 

 

 

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