Investigation tips for new insolvency investigators:
👉 The integrity of your investigation is important.
👉 ABC of investigation:
Assume nothing
Belief could be overrated
Check everything
👉 Memory can be fallible so bare assertion might be no substitute for contemporary documents.
👉 Obtaining information is not necessarily straightforward even with Sections 234/311/312, 235/333 and 236/366 of the Insolvency Act 1986 at your disposal.
👉 Persistence in a courteous and cautious manner can pay you dividends.
👉 Section 236/366 can be overutilised. Check out Sections 234/311/312 and their deployment after you have hoovered up and applied your mind to the pertinent points from BS Markesinsi’s RJC Munday’s “An Outline Of The Law of Agency”.
👉 The owership rights to documents could be one of the greatest assets in your information gathering toolbox.
👉 Potentially the most valuable sources of information in a case might be documents held by third parties:
Solicitors
Accountants
Bankers
HMRC
👉 Consider getting your own accountants/solicitors files so you can forensically study their ingredients from the engagement letter, invoices to the working papers.
👉 Study and embrace the caselaw in depth that so that you know your information entitlements and how they can be deployed – eg:
Re Konisberg
Re Shlosberg
Re Murjani
Walker Morris v Khalastchi
Re Harvest Finance Ltd
Fairstar Heavy Transport NV v Adkins
Chantrey Martin & Co v Martin
Cloverbay
Shierson v Rastogi
👉 Trust your instinct about entitlement to information but take care when asserting entitlement to information if you are not crystal clear of your rights.
👉 Don’t focus *only* on the information you have but also on what you do not have.
👉 Inconsistencies you discover are important but they may not prove the case for you.
Good luck.
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Disclaimer: Investigation Tips For New Insolvency Investigators
This page is not legal advice and should not be relied upon as such. This article is provided for information purposes only. You can contact us on the specific facts of your case to obtain relevant advice via a Free Initial Consultation.
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