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2 Sep 2014 09:17am

Neville Kahn quits ICAEW insolvency group

Neville Kahn has stood down as chairman of the ICAEW Insolvency SIG (special interest group)

Kahn did not specify his reasons for leaving the post.

Last month Kahn, global head of reorganisation services for Deloitte, who has been involved in high profile administrations for the firm including Woolworths and HMV, was one of three Deloitte partners referred to ICAEW over a possible conflict of interest in the administration of Comet.

After an 18-month investigation by the Insolvency Service, Christopher Farrington, Nicholas Edwards and Kahn were considered for disciplinary action on two different grounds regarding the administration of Comet.

Following Comet’s collapse in 2012, the three IPs – previous advisors to Comet – accepted their appointment as administrators despite potential for conflict of interest, according to the Insolvency Service.

Additionally, the employment tribunal found that employees were not properly consulted on redundancy options as legally required, leading to a potential £26m compensation package which will be footed by the taxpayer, the tribunal found.

At the time Deloitte said it “strongly disagreed” with the suggestion of a conflict of interest.

Raymond Doherty

 

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