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Halliwells’ ex-managing partner: ‘I gave my life to that practice’

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  • Nice timing. As far as I recall the insolvency Act applies to LLPs, and that there is a section in there relating to transactions at an undervalue - perchance the handing out of a "tax efficient" 15m for nothing ? As connected parties this relates back how far ? Now let me think. Oh yes, two years. I wonder what date in 2008 they took their wedge ? Before July do you reckon ?

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  • That's one insolvency Mr Buchanan won't be putting on his CV.

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  • This guy even had the temerity to pursuade the IT & Facilities heads to contribute to the firm by making them 'partners' whilst it was going belly up. There again greed makes some people blind and deaf I suppose so no real sympathy for them either. I hear the IT director has bailed out as well to one of the take over firms leaving his staff begind as well - nice one.

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  • What a nice change it makes to see people resisting the urge to blow their own trumpets.
    The ex Halliwells corporate recovery team have been involved in the largest LLP failure this country has ever seen but not one of them has taken the opportunity to refer to this on the Gateley Wearing website. It warms my heart to see such restraint.

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  • it's presumably the case this chap was the 'mastermind' of the Halliwells disaster? But it is a shame that more is not said about the other 4/5 board members at the time 'that' decision was made. Instead they have managed to flee like rats leaving a sinking ship to other firms, largely unnoticed. In fact, other firms have played on their coups in the legal press. No doubt these ex board members will be now be exclaiming how halliwells was horrendous and that they've had a lucky escape, generally playing the injured party. The reality is they put the jobs of many at risk (and canned the livelihood of many support staff) without a care in the world.

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  • Anyone out there with any IT nouse able to set up an online petition to have these people investigated?

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  • Hang on: (1) Risky property deals enhancing profits but storing up risk for the future (2) borrowing money to make distributions to equity partners (3) "its OK, lads, we will grow our way out of this" attitude to massive debt (4) partners kept in the dark by a management cabal (5) Finance Director leaves and is replaced with a junior appointee (6) Schemes to get capital from non-equity partners (7) Profit announcements which later turn out to be questionable (8) Disastrous "mergers" (9) A financial mess (10) A "management" who claimed credit in the boom years but blame everyone else when it goes wrong. Is this Halliwells 2009/2010 or Hammonds 2004 (Pre-Peter Crossley, I stress)? The parallels are astonishing and should be noted by all partners in all firms.

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  • Re "Corporate Recovery's" comments: they seem to be experts in advising businesses in distress, and on giving advice about directors' duties.
    Are the duties owed by the management of an LLP very different from those of a company director? Reasonable skill and care, anyone?

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  • Come on Ian give us all another good laugh. We all know that you will be enraged by these comments. Please again exercise your right of reply so that we can all again roar with laughter. Where is that good old affable Ian we have read about so often in the press? Where is blunt speaking Alec?
    Give us more, try and win our hearts and minds by further protestations, where is your commitment, man? You are not going to take all of this lying down are you? You are a fighter not a loser. Come on let rip.

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  • Mr Austin yet again attempting career suicide, I would imagine your new employers won't be best pleased with their new found stardom and certainly some of the belittling they're getting, that should pull in the new clients eh!
    However lets not forget that he was not alone in his actions and those who were involved know who they are, and are here challenged to defend there actions and maybe offer some form of an apology to the staff they once lorded over screaming and shouting from their ivory towers, I WANT I DON'T CARE, like little school children.
    In response to the said Hack, talking about non biased reporting and everyone being entitled to an opinion, do you not think that the staff of Halliwells are entitled to a proper investigation as to how their jobs have been sacrificed for the greed of so few, so where are these so called investigative journalists who like to seek the truth in the name of honour faith. Or are you all just to worried that you might miss out on a few free lunches or dinner parties if you upset the wrong people. Maybe your editors are frightened of losing one or two big advertising accounts if you turn over the wrong stone. Typical how the MEN were there to report the success of Halliwells during the golden years but have been very low key when it comes to hundreds of employees seeking the facts and an explaination of the truth. So sharpen your pencils and get your note books out as it doesn't look like the authorities will invoke an investigation and start giving those who deserve the truth, the real facts.
    "Never has so much been sacrificed at the expense of so many for the pleasure of so few"
    "success is the ability to go from one failure to another without the loss of enthusiasm"
    I recall hearing quotes like that in the past! different era I suppose.

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