OFT to report on the structure of the insolvency market next year
The Office of Fair Trading has revealed that it is conducting an in-depth study of the corporate insolvency market.
The investigation will look at the structure of the market and the appointment process for insolvency practitioners. It will also search for features in the market which may result in inequalities, such as higher fees or lower recovery rates for certain groups of creditors.
It follows recent concerns raised by the government and Insolvency Service over the way insolvency practitioners are appointed.
The study will collect and analyse data from accountancy firms, law practices, government, regulators and trade bodies, with the OFT planning to release its findings at the end of 2010, unless it is necessary to conduct a second stage.
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