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Insolvency practitioner sanctions: Mark Prideaux 8 July 2024

On 8 July 2024 a Settlement Order was made against Mark Prideaux of Manchester, United Kingdom

• From: The Insolvency Service
• Published: 5 September 2024

Applies to England, Scotland and Wales

Documents

Settlement Order Mark Prideaux

ODT, 20.3 KB

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Details

Summary of complaint

This Order is made in relation to complaints that:

1. Between 17 October 2021 and 19 August 2022, Mr Mark Prideaux FCA failed to take appropriate action in accordance with the IVA Standard Terms following a breach of the IVA of Mr ‘A’, and as a result failed to:
   • comply with paragraph 16d) of SIP3.1 effective from 1 July 2014; and/or
   • adhere to the fundamental principle of Professional Competence and Due Care as set out in the Insolvency Code of Ethics effective from 1 May 2020.

Mr Mark Prideaux is therefore liable to disciplinary action under Disciplinary Bye-law 4.1b.

1. Between 21 April 2022 and 6 May 2022, Mr Mark Prideaux FCA failed to record the vote from ‘B’ Limited in liquidation at the IVA variation meeting held on 6 May 2022, and as a result failed to:
   • comply with paragraph 16f) of SIP3.1 effective from 1 July 2014; and/or
   • adhere to the fundamental principle of Professional Competence and Due Care as set out in the Insolvency Code of Ethics effective from 1 May 2020.

Mr Mark Prideaux is therefore liable to disciplinary action under Disciplinary Bye-law 4.1b.

1. Between 15 September 2021 and 19 August 2022, Mr Mark Prideaux FCA failed to accept the claim submitted by ‘B’ Limited in liquidation for dividend purposes, in accordance with the IVA Standard Terms, and as a result failed to:
   • comply with paragraph 16b) of SIP3.1 effective from 1 July 2014; and/or
   • adhere to the fundamental principle of Professional Competence and Due Care as set out in the Insolvency Code of Ethics effective from 1 May 2020.

Mr Mark Prideaux is therefore liable to disciplinary action under Disciplinary Bye-law 4.1b.

1. Between 26 August 2021 and 19 August 2022, Mr Mark Prideaux FCA failed to respond adequately to correspondence and/or failed to respond to correspondence and/or failed to respond to a formal complaint, and therefore failed to:
   • comply with paragraph 16g) of SIP3.1 effective from 1 July 2014; and/or
   • adhere to the fundamental principle of Professional Competence and Due Care as set out in the Insolvency Code of Ethics effective from 1 May 2020.

Mr Mark Prideaux is therefore liable to disciplinary action under Disciplinary Bye-law 4.1b

Published 5 September 2024