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Students of collateral damage from major business collapses need look no further than Halliwells and the College of Law (CoL).
The exclusive provider of the LPC for Halliwells’ trainees is owed £450,000 by the collapsed firm. CoL chief executive Nigel Savage says that as a unsecured creditor, his organisation might be left with no choice but to write off the bad debt.
Now this fact is the subject of a row raging on TheLawyer.com, one stoked by the considerable size of Savage’s own pay packet. “If the College of Law can write off nearly half a million then clearly it is making too much money” said one comment.
“Even more outrageous than Halliwells’ bad debt to the CoL is that this so-called “charity” pays Mr Savage £440K a year,” said another. These “outraged” comments were immediately followed by another putting a rather different point of view.
“The writing off of the debt is not a decision that the college has any choice over,” pointed out the poster. “The decision to allow the students to take the exams and the decision to offer them support in obtaining training contracts elsewhere is a decision that the college has made and this should be recognised.”
Or, as the writer adds, “whilst I appreciate that it is fashionable to criticise the college, BPP and other providers of the LPC, you speak volumes about yourselves in not giving credit where and when it is due”.