188体育

Summary of complaint

An Order has been made in relation to an allegation that Mr Sands in his role as Nominee of a proposed Individual Voluntary Arrangement (鈥業VA鈥�), breached the fundamental principle of professional competence and due care of the Insolvency Code of Ethics when he failed to properly verify the debtor鈥檚 assets and liabilities to ensure that the IVA proposal had a reasonable prospect of being approved and successfully implemented.

Accordingly, Mr Sands was found liable to disciplinary action under the IPA鈥檚 Articles of Association.