Insolvency practitioner fined £14,000 after failing to comply with the IPA

August 24, 2016

Liverpudlian insolvency practitioner, Gerard Keith Rooney, has been fined due to unprofessional behaviour and failing to assist the Insolvency Practitioners Association (IPA) when asked for a response between June 2014 and February 2015.

He also failed, as an appointed liquidator of a company, to provide progress reports to Companies House. This was a clear breach of section 104A of the insolvency Act 1986.

Not co-operating with regulators and ignoring essential reports will lead to an investigation, disciplinary action and in this case a hefty fine.