He is of one the profession’s most prominent insolvency practitioners (IP) and was recently replaced as head of Deloitte’s UK Financial Advisory practice. He has worked in the sector of over 25 years and been involved in some of the UK’s highest profile insolvencies, including Woolworths and HMV.
A spokesperson for Deloitte said, “Neville Kahn is leaving the firm to set-up an investment fund. This is something he has considered for some time and is unrelated to the Comet insolvency or any investigation by the Institute.”
In 2014 then business secretary Vince Cable announced that the Insolvency Service has referred three Deloitte partners – Kahn along with Christopher Farrington, Nicholas Edwards - to ICAEW over a Comet administration conflict of interest.
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.