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Ex-Halliwells fixed share partners mull legal action against equity partners

The equity partner fools never learn. They sneaked through an amendment to the llp deed so they could take the Spinningfields cash and then they sneaked another amendment through so they could get the terminal loss relief - another windfall for the greedy fools who wrecked the firm. Wouldn't you have thought that they would have told the FSMs, the administrators and more importantly the court about what they had done. Securing a preference on the back of a bankruptcy threat when the shenanigans with the deed meant there would be a massive windfall for the equity partners really ought to have been put before the court. Time for the court to re-examine the preferences and perhaps a reminder of the duties solicitors have as officers of the court. Re-open the proceedings so that the creditors get a fairer deal and those responsible for the demise of the firm take their medicine.

19-Oct-2011

7:56 am