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‘Unscrupulous and illegal’ behaviour to rise following removal of litigation funds

Lawyers and insolvency professionals believe changes to insolvency litigation will lead to ‘unscrupulous or illegal behaviour’ by directors who no longer fear the risk of legal action being taken against them.

A survey by Encompass Corporation found that four-fifths of respondents think that one in three cases where companies place themselves into insolvency while holding undeclared assets will not proceed to legal action due to a lack of funding available for investigation and prosecution.

Read the complete review below

'Unscrupulous and illegal' behaviour to rise following removal of litigation funds

Lawyers and insolvency professionals believe changes to insolvency litigation will lead to 'unscrupulous or illegal behaviour' by directors who no longer fear the risk of legal action being taken against them.

The LASPO survey results:

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View the LASPO results infographic here


about encompass

Founded in 2011 by entrepreneurs Roger Carson and Wayne Johnson, and operating from the UK, encompass is the creator of unique, innovative Know Your Customer (KYC) software for banking, finance, legal and accountancy that enable better, faster commercial decisions. The company is driven by the belief that the best decisions are made when people understand the full picture.

want to turn regulation compliance
in to a competitive advantage?

 

Contact us today to arrange your personalised consultation of encompass. Discover how our KYC automation software can help your business accelerate onboarding and give you peace of mind that you are regulator ready.

 

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