Insolvency practitioner sanctions: Kieran Bourne 8 November 2023
On 8 November 2023 a Disciplinary Consent Order was made against Kieran Bourne of Cromwell Insolvency Limited
Documents
Details
This Order is made in relation to an allegation that Kieran Bourne in his role as;
Allegation 1. Liquidator of several companies, breached the Fundamental Principle of Professional Competence and Due Care of the Insolvency Code of Ethics when he:
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Failed to take sufficient steps to verify employees’ claims before submitting the RP14As to the Redundancy Payments Service
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Failed to carry out independent verification of the information provided to him by the companies’ directors before submitting the RP14As
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Failed to raise any concerns with the Redundancy Payments Service as to the veracity of the employees’ claims, either before or after submitting the RP14As.
Allegation 2. potential liquidator/liquidator of several companies, breached Statement of Insolvency Practice (SIP) 1 and Regulation 13 of the Insolvency Practitioners Regulations 2005 when he failed to keep contemporaneous records to evidence his meetings with directors/ shareholders during which identification documents were produced and verified.
Allegation 3. as a potential liquidator/liquidator of two companies, breached the fundamental principle of Professional Competence and Due Care of the Insolvency Code of Ethics and Regulation 27 and/or Regulation 28 of the Money Laundering, Terrorist Financing and Transfer Funds (Information on the Payer) Regulations 2017 (‘MLR17’) when he failed to carry out due diligence and verify the identity of the entity paying his fees.