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Insolvency practitioner sanctions: Patricia Marsh 30 April 2023

On 30 April 2023 a Disciplinary Consent Order was made against Ms Patricia Marsh, formerly of MH Recovery Limited

From:
The Insolvency Service
Published
28 July 2023

Documents

Disciplinary Consent Order Patricia Marsh

PDF, 102 KB, 2 pages

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Details

This This Order is made in relation to a complaint that Mrs Marsh in her role as Officeholder of no less than five insolvency estates breached the fundamental principle of professional competence and due care of the Insolvency Code of Ethics when she;

  • failed to prepare and/or file annual progress reports at Companies House, and

  • failed to

  • prepare and/or submit Corporation Tax returns (‘CT600’) to HM Revenue & Customs (4 cases), and/or
  • undertake case reviews and/or record details of the case strategies (5 cases), and/or
  • make enquiries into the existence of a pension scheme (2 cases)
  • demonstrate that any ethical considerations, or checks on conflict, were made, or an evaluation of AML risk (2 cases), and/or
  • deal adequately with estate assets, or failed to adequately document the strategy for dealing with estate assets, progress made and decisions generally in pursuit of realisations (4 cases), and/or
  • comply with the provisions of Statement of Insolvency Practice 2 by either failing to locate the company’s books and records (with no evidence on file of any steps taken to obtain them) or failing to complete an initial investigation into potential antecedent transactions (2 cases), and/or

  • progress the administration of insolvency estates (2 cases)2, and

  • In her role as liquidator of a company she made or permitted to be made payments out of the liquidation estate to herself and/or to her associates of approximately £38,000 for remuneration (and/or expenses) which was not a fair and reasonable reflection of the work undertaken, in breach of Statement of Insolvency Practice (SIP) 9 paragraph 3.
Published 28 July 2023

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