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Insolvency practitioner sanctions: Gerard Nicholas Ratcliffe 18 July 2023

On 18 July 2023 a Consent Order was made against Mr Gerard Nicholas Ratcliffe of Bolton, United Kingdom

From:
The Insolvency Service
Published
11 September 2023

Documents

Consent Order Gerard Ratcliffe

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Details

Summary of complaint:

Complaint 1

(a) That between 3 and 8 June 2020 Mr Gerard Ratcliffe FCA, as the Nominee of the Individual Voluntary Arrangement of Mr “X”, failed to properly conduct the initial advice call, contrary to the following paragraphs of Statement of Insolvency Practice 3.1 effective from 1 July 2014;

and or/

(b) That between 3 and 8 June 2020 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangement of Mr “X”, failed to properly calculate Mr “X”’s disposable income contrary to Paragraph 13(d) of Statement of Insolvency Practice 3.1 effective from 1 July 2014;

and / or

(c) between 3 and 8 June 2020 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangement of Mr “X”, failed to ensure that Mr “X” was given appropriate advice to be able to conclude that an Individual Voluntary Arrangement was the most suitable debt solution, contrary to Paragraph 12(e) of Statement of Insolvency Practice 3.1 effective from 1 July 2014

Therefore, Mr Ratcliffe is liable to disciplinary action under Disciplinary Bye-law 4.1b

Complaint 2

2(a) That between 9 and 16 March 2020 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangements of Mrs “Y” and Mr “Z”, failed to properly conduct the initial advice call, contrary to the following paragraphs of Statement of Insolvency Practice 3.1 effective from 1 July 2014;

and or/

(b) that between 9 and 16 March 2020 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangements of Mrs “Y” and Mr “Z”, failed to properly calculate Mrs “Y”’s and Mr “Z”’s disposable income contrary to Paragraph 13(d) of Statement of Insolvency Practice 3.1 effective from 1 July 2014;

and or/

(c) That between 9 and 16 March 2020 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangements of Mrs “Y” and Mr “Z”, failed to ensure that Mrs “Y” and Mr “Z” were given appropriate advice to be able to conclude that an Individual Voluntary Arrangement was the most suitable debt solution, contrary to Paragraph 12(e) of Statement of Insolvency Practice 3.1 effective from 1 July 2014;

and / or

(d) That between 9 and 16 March 2020 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangements of Mrs “Y” and Mr “Z”, failed to ensure that Mrs “Y” and Mr “Z” were given appropriate advice to be able to conclude that an Individual Voluntary Arrangement was the most suitable debt solution, contrary to Paragraph 12(e) of Statement of Insolvency Practice 3.1 effective from 1 July 2014; and / o2

Therefore, Mr Ratcliffe is liable to disciplinary action under Disciplinary Bye-law 4.1b.

Complaint 3

3(a) That between 23 April and 19 May 2020 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangements of Mrs “A” and Mr “B”, failed to properly conduct the initial advice call, contrary to the following paragraphs of Statement of Insolvency Practice 3.1 effective from 1 July 2014;

and/or

(b) That between 23 April and 19 May 2020 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangements of Mrs “A” and Mr “B”, failed to properly calculate Mrs “A”’s and Mr “B”’s disposable income contrary to Paragraph 13(d) of Statement of Insolvency Practice 3.1 effective from 1 July 2014;

and/or

(c) That between 9 June 2020 and 22 March 2021 Mr Gerard Ratcliffe, as the Supervisor of the Individual Voluntary Arrangement of Mrs “A” and Mr “B”, failed to pay a dividend in accordance with modified IVA Proposal terms contrary to paragraph 16b) of Statement of Insolvency Practice 3.1 effective from 1 July 2014.

Therefore, Mr Ratcliffe is liable to disciplinary action under Disciplinary Bye-law 4.1b

Complaint 4

  • That between 5 and 12 February 2018 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangements of Mr “C” and Mrs “D”, failed to properly conduct the initial advice call, contrary to the following paragraphs of Statement of Insolvency Practice 3.1 effective from 1 July 2014;

and/or

  • That between 5 and 12 February 2018 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangements of Mr “C” and Mrs “D”, failed to properly calculate Mr “C” and Mrs “D”’s disposable income contrary to Paragraph 13(d) of Statement of Insolvency Practice 3.1 effective from 1 July 2014;

and/or

  • That between 5 and 12 February 2018 Mr Gerard Ratcliffe, as the Nominee of the Individual Voluntary Arrangements of Mr “C” and Mrs “D”, failed to ensure that Mr “C” and Mrs “D” were given appropriate advice to be able to conclude that an Individual Voluntary Arrangement was the most suitable debt solution, contrary to Paragraph 12(e) of Statement of Insolvency Practice 3.1 effective from 1 July 2014;

and/or

  • That between 5 March 2018 and 21 July 2021 Mr Gerard Ratcliffe, as the Supervisor of the Individual Voluntary Arrangement of Mr “C” and Mrs “D”, failed to pay a dividend in accordance with modified IVA Proposal terms contrary to paragraph 16(b) of Statement of Insolvency Practice 3.1 effective from 1 July 2014.

Therefore, Mr Ratcliffe is liable to disciplinary action under Disciplinary Bye-law 4.1b.

Published 11 September 2023

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