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Wednesday, 18 January 2012

Bond Partners LLP Administration, Complaint Over CVA Supervisor Fees

Received a call today, following up our blog on Monday about Bond Partners LLP. I was informed that a company in a CVA that paid £180,000 contributions into a CVA in its first 12 months had been appalled that creditors received nothing in return. The CVA Supervisors fees taken ?

I am informed that the fees taken were £180,000. If this is to be believed, and the company concerned is taking legal advice, this is astonishing.

This company had had £480k of debts and around 45 creditors, so a normal supervisors fee in year one would be no more than £5-6,000 from £180k of contributions.

What is also interesting is there is very little news coverage on this failure of a mid sized insolvency firm?

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