Interesting news over the weekend that four people have been detained as a result of the ongoing investigation into the alleged fraudulent acquisition of Rangers Football Club. It has since been confirmed that three are partners from the firm appointed to handle the administration of the club when it became insolvent in 2012. It is not clear why they have been detained but there had been previous complaints that they were conflicted in taking the appointment due to prior involvement with the business of the club.
It would be wrong to speculate on exactly why they were detained but it does seem that conflicts of interest are hitting the headlines at the moment and attracting the interest of the authorities. See the comments on Comet below as well as comments on non-insolvency related conflicts. The message seems clear. Any perception of a conflict of interest undermines confidence and should be avoided at all costs.
David Bryan – Principal, BM&T
18th November 2014