Transparency data

Insolvency practitioner sanctions: Kevin McLeod February 2024

In February 2024 an Exclusion Order was made against Mr Kevin McLeod

• From: The Insolvency Service
• Published: 17 June 2024

Applies to England, Scotland and Wales

Documents

Excusion Order Kevin McLeod

ODT, 11 KB

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Details

Summary of complaint:

ICAS Investigation Committee has found Mr Kevin McLeod, a CA member and licensed insolvency practitioner, guilty of professional misconduct (in relation to complaints 1, 2 and 4 and unsatisfactory professional conduct (in relation to complaint 4) on the basis of the following:

1. When acting in the capacity of appointed liquidator of Company A, he failed to ensure that the estate money was at all times held subject to appropriate financial controls, and to safeguard the estate funds from misappropriation in breach of the requirements contained in paragraphs 2, 4, 6, 8 and 9 of Statement of Insolvency Practice 11.
2. When acting as trustee in sequestration of Debtor B, he failed to properly and timeously renew an inhibition to protect the estate’s interest in the heritable estate, to the actual or potential prejudice to creditors, in terms of Section 39A of the Bankruptcy (Scotland) Act 1985, and in breach of the requirements contained in Part 2.25 of the Accountant in Bankruptcy’s Notes for Guidance for Trustees.
3. When acting as trustee in sequestration of Debtor B, he failed to properly recover, manage and realise the debtor’s estate as required in terms of Section 3 of the Bankruptcy (Scotland) Act 1985.
4. As sole director of his insolvency practice, he failed to submit to Companies House the statutory accounts for his business, for the accounting periods between March 2019 to March 2022.

Therefore, Mr Kevin McLeod is in breach of:

Complaints 1-3 constitute a breach of Regulation 4.12 of the ICAS Insolvency Regulations, and complaints 1-4 constitute a breach of the fundamental principles of professional competence and due care, and professional behaviour, contained in the Code of Ethics.

Published 17 June 2024