Accountancy & Audit Sector
The remuneration of accountants and office-holders is coming under increasing scrutiny as stakeholders seek increasing value for money and the regulatory environment tightens. Scrutiny may come from HM Revenue and Customs in relation to remuneration and expenses claimed in insolvency or proceeds of crime act proceedings; from a bankrupt seeking to challenge his trustee in bankruptcy’s fees; or from a party subject to sequestration proceedings seeking to challenge the sequestrators’ remuneration and account. The issues in dispute can be wide-ranging and complicated, and demand detailed knowledge of insolvency and accounting practice, together with the law in relation to the assessment of costs.
We understand the work undertaken by accountants and office-holders, their time recording systems, their professional obligations, and the particular challenges they face in seeking to balance the conflicting demands of stakeholders in sometimes hostile proceedings. This understanding is borne out of insight and experience. We have over 15 years of experience working in the insolvency and proceeds of crime fields. We are therefore familiar with your working practices, understand the issues from your point of view, and can develop solutions.
Examples of our services include:
- Formal representation before the courts in costs litigation including preparation of Practice Direction compliant applications, pleadings, and advocacy;
- Engaging directly with the party challenging your remuneration (or their legal representatives) to negotiate and seek compromise solutions where possible to avoid the costs of litigation;
- Advising on strategy and assisting in negotiations in relation to any emerging or actual costs-related dispute; including advising upon settlement offers and where to pitch them;
- Preventative reviews of policy and procedure and / or case files to maximise recoverability and avoid common pitfalls.
Thomas Legal Costs
12 Token House Yard
DX 138752 CHEAPSIDE
18 Park Street
T: 020 7073 2600
F: 020 7073 2955