Insolvency practitioner sanctions: Grant Lane Pegg 6 June 2016
On the 6th June 2016 a Licence Withdrawal Order was made against Grant Lane Pegg of Brighton
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This order is made in relation to the ILC’s decision to withdraw Mr Pegg’s insolvency licence.
At its meeting on 6 June 2016 the ILC decided on the basis of Mr Pegg’s admitted misappropriation of funds from insolvency cases he is no longer a fit and proper person to act as an insolvency practitioner and that his ICAEW insolvency licence should be withdrawn with effect from 28 June 2016 under regulation 5.12 of the Insolvency Licensing Regulations and Guidance Notes.
The ILC also decided to withdraw Mr Pegg’s ICAEW insolvency affiliate status under regulation 6.5 of the Insolvency Licensing Regulations and Guidance Notes for the same reason.
The effect of the ILC’s decision is that Mr Pegg is no longer licensed to act as an insolvency practitioner and is unable to take any insolvency appointments.