Former Halliwells fixed-share partners query BDO's impartiality

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  • Oh dear!
    Yet more revelations.... and we are a long way from done with this sorry saga...
    Addleshaws' compliance team will be working on little else at present, one suspects!

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  • They don't interact any more, BDO are being shunned by those firms whose partners are being sued and they are even being shunned by those who are partners elsewhere but whose friends are being sued. Hard to see how BDO recover from this.

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  • Didn't Alec Craig win the Allsports job and give it to Dermot Power?

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  • Oh come on, Dermot Power has been a "name" in Manchester insolvency for at least the last 20 years. Eh that's why he got this job.
    Too many conspiracy theorists.

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  • @ anon at 8.26am
    Interesting you raise the question as to why BDO got this job, I gather that they were instructed by Halliwells' management board in the run-up to the insolvency, which is what got them in pole position to get the administration appointment.

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  • The question is whether BDO LLP and/or the two individual administrators had a prior professional relationship with Halliwells LLP. If they did, it needed to be disclosed on the Form 2.2B filed by the proposed administrators.
    It's simple question, really. If Halliwells LLP had been instructed by BDO, or had referred work back and forth, this has to be disclosed.
    A prior professional relationship doesn't in itself disqualify the IP from acting. The question is whether there is a conflict of interest in accordance with the Insolvency Practitioners' Joint Code of Ethics.
    Para 10 of the Joint Code of Ethics talks about "Familiarity" threats to an IP's independence and gives as an example any individual within the IP's firm having a close personal or professional relationship with anyone who has an interest in the insolvent business.
    BDO's response doesn't seem to address these issues (although in fairness to them, it depends what question they were asked).

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  • Andrew Buchanan is a good man, a pleasure to work with and for, and leads by example. Find someone else to pick apart - god knows there are plenty to choose from. Leave Buchanan alone.

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  • Seconded

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  • In my experience, Andrew always had lots of time to develop the talents of junior solicitors.

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  • Follow my lead......take a share of a £21m reverse premium, encourage the business to borrow about the same and stick around to help the business into administration. Not really the best example to set is it?

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  • In fairness he did stick around, and didn't just cut and run with his money like some of the others (Garston, Liversidge, Burns etc).
    And he was definitely the man to go to if you were a junior solicitor who wanted more hands-on experience than you'd get with most partners.

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