Anonymised Anti-Money Laundering (AML) case studies, to assist members in reviewing AML policies and procedures, are available on our enforcement notices page – click here.

Administration approaching its anniversary. Directors had defaulted on a personal guarantee to discharge the purchase consideration for the company’s assets. No other funds in the cases. No QFC. Fee basis approved. Any recoveries would necessarily be less than the fees and legal costs expended. Lawyers had suggested the administrator take an assignment of the claim against the directors as an alternative to extending the administration, given that there were no other funds in the estate.

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