Transparency data

Insolvency practitioner sanctions: Laurence Gerald Factor December 2024

In December 2024 a Regulatory Penalty was made against Laurence Gerald Factor of Newman & Partners Insolvency & Recovery Services Limited

• From: The Insolvency Service
• Published: 24 January 2025

Applies to England, Scotland and Wales

Documents

Regulatory Penalty Laurence Gerald Factor

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Details

Summary of complaint

In terms of Regulation 5.33 of the ICAS Insolvency Regulations, notice is hereby given that the ICAS Authorisation Committee has applied a regulatory penalty of £7,500 to the Insolvency Practitioner Laurence Factor in respect of the following two issues:

1. Failure to hold estate funds in individual estate accounts, as required by Statement of Insolvency Practice 1; and
2. Failure to investigate the validity and potential misuse of a Bounce Back Loan.

In calculating the level of penalty, the Committee consulted the Common Sanctions Guidance, which is shared by the Insolvency RPBs, and reached the following conclusions:

Published 24 January 2025