Politicians and investigating officers take a keen interest in tackling bankruptcy fraud. Criminal investigations into bankruptcy fraud may be carried out if it emerges that creditors are being culpably disadvantaged in cases of bankruptcy.
Increased attention to irregularities and the role of the liquidator
The position of a bankruptcy trustee has not been forgotten during the debate on the Financial-Economic Crime Prevention (Extended Powers) Act. Bankruptcy trustees now have to devote more attention to any irregularities that might indicate bankruptcy fraud than was previously the case. In the event that any such irregularities are discovered, bankruptcy trustees are encouraged to report this to the Public Prosecution Service. The bankruptcy trustee’s assessment of transactions and payments effected by your company prior to bankruptcy may result in alleged bankruptcy fraud, and so may failure to keep the administration properly updated or failure to maintain any administration at all. An investigation into alleged bankruptcy fraud could shed a different light on transactions made by your company.
Criminal or civil investigations
If your organisation is subjected to investigations into alleged bankruptcy fraud, our experts at Ploum can advise and assist you. Our insolvency law specialists will assist you during the civil procedure, and our fraud and white collar crime specialists can advise you during the criminal investigation on matters such as whether you should make a statement to the investigative authorities. We approach the Public Prosecution Service to settle the matter out of court wherever possible. If, however, court proceedings are inevitable, it goes without saying that we will assist you and/or your company during the proceedings.