Halliwells, the aftermath: HBJ and failed firm face court

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  • Does this mean the various employment bods from the parties transacting or advising ether:

    didn't consider this stuff;
    did and ignored it; or
    did and thought it would be ok/necessary to do, crossing their fingers and touching the wooden desk tops (property of RBS) that they'd get away with it?

    Doesn't look good however you consider it!

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  • The way that these partners have acted is truly abominable. The story of how that pregnant woman and the scores of support staff were treated defy belief

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  • The former partners and management of Halliwells have a lot to answer for. I am all for public flogging in their case! I do hope these despicable people are made to suffer.

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  • I just hope that the people responsible can't hide behind the fact that Halliwells no longer exists as a firm.

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  • Not good when you are the new kids on the block but let's face it the former Halliwells equity partners seem to be doing ok.
    They took 18M out, got the RBS and other financers to put in 25M, they then got the junior partners to stick a few more million in and then the reverse premium gang either buggered off or sat there drawing the borrowed money out until the LLP could not survive any longer.
    They then dump it into admin and try to suggest that all the losses were incurred in a 3 month period in 2010/11 so that the same people who took the reverse premium can maximise their terminal loss relief.
    Contrived in the extreme.
    Will they get away with it?
    Only time will tell

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  • This is tragic case. Just proves that employers do have a social responsibility to their employees not just a legal one.

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  • Did the Law Society /SRA have any involvement in any of this?

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  • Not all the partners were responsible. It was the greedy equity partners who ruined the firm.
    The man in the photograph took nearly 1M of the reverse premium money and was paid 75k for setting up the deal. That deal was responsible for Halliwells failure and anybody who tries to argue otherwise is either a liar or an idiot. People lost their jobs and families have been put in debt but the reverse premium guzzling equity partners are still bowling around town and appear to accept little responsibility for their actions (Austin's poor me interview evidences this). Let us see whether the state owned RBS has any appetite for appointing a Liquidator who has an appetite for the job.

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  • I think people should stop villifying Ian Austin - there were other equity partners at Halliwells, surely? Why does every article have a smug picture of Ian Austin attached to it?

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  • This is what happens in a profession overrun by spivs due to low barriers to entry.
    Halliwells is probably typical of many firms outside the elite.

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