Name: Sushil Patel
Professional Qualifications: September 2005 - July 2006
Legal Practice Course (LPC)
Distinctions in Property Law & Practice and Advanced Commercial Property
Commendations in Wills & Probate and Business Law & Practice
Certificate of Proficiency In Insolvency (CPI)
Education: September 1999 - June 2002
University of Kent at Canterbury
LL.B Degree (Honours) 2.1
1st in final year academic critique on Corporate Law and Finance
1991 - 1998
Our Lady High School and Loreto Sixth Form College
4 A levels
Business Studies (A) Law (B) Geography (C) Environmental Science (C)
A/S level in Law (A)
12 GCSEs including A grade in Business Studies
Two subjects taken a year early gaining C grades
Current Position: Senior Insolvency Executive
Current Employer: RSM Tenon
Notice Period: 1 Month
October 2008 – Date – RSM Tenon - Senior Insolvency Executive
Reporting to Manager and Partner and responsible for the supervision of junior members of the team.
• Responsible for a wide variety of case types from inception through to completion including:
o Administrations (including Trading Administrations)
o Independent Business Reviews
o Creditors’ Voluntary Liquidations
o Company Voluntary Arrangements
o Bankruptcy/Individual Voluntary Arrangements
• Rolling caseload of up to 50 cases across a wide range of industry sectors including, retail, property, manufacturing, electrical engineering, construction, transport and licensed entertainment venues
• Attend initial meetings with clients in person and on the phone, providing a full assessment of their situation, recommending the specific course of action and preparing the documentation required to get the job underway
• Construction of cash flow forecasts, Statement of affairs, Section 98 Reports, Administrator’s Proposals and estimated outcome statements for a variety of end users.
• Produce a wide variety of statutory reports including; Progress Reports, Annual Reports, Final Reports and Chairman Reports
• Convening & holding creditors’ meetings and managing compliance and meeting statutory deadlines
• Meeting with company directors and identifying a suitable insolvency strategy for the business
• Negotiating with interested parties whilst seeking a going concern sale
• Reviewing sale contracts which have been prepared by solicitors
• Investigation into director’s conduct and the production of the ‘D’ Report
• Preparing Asset realisation strategies to suit particular scenario
• Dealing with distress creditors in light of statutory provisions.
• Reviewing creditor claims and preparing dividend distributions for all classes of creditors
• Supervisory functions: reviewing, training and assisting administrators on a daily basis
• Diary and task management, use of IPS, Microsoft Office, Sage, MYOB, Pegasus and SAP
• Trading Administrations / Formulating trading strategies.
• Advising MBOs/Purchasers and other interested parties through the Administration process.
• Reporting to Banks and Debenture holders including preparing financial outcome statements.
• Preparation of statutory reports including administration proposals and progress reports.
• General asset realisations and associated negotiation of the sale of these assets
• Hands on involvement in the debtor collection process.
Independent Business Reviews:
• Reviews conducted for banks and venture captitalists with a view to viability and further lending;
• Reviewing current trading and financial position
• Producing Profit and cashflow projections
• Analysing and critiquing business and financial strategies
• Sensitivity analysis
• Reviewing bank security cover
• Evaluating options for the way forward for the business
• Responsible for the completion of the Statement of Affairs and Deficiency Accounts
• Investigate the affairs of the business and the conduct if its former Directors
• Preparation of all statutory reports
• Liaising with the Directors seeking full and complete information.
• Liaising with agents preparing strategy for the realisation of assets.
• Responsible for agreeing creditor claims and paying dividends where appropriate.
• Responsibility for guiding and assisting the Directors and the Management team through the CVA process.
• Monitor the Company’s compliance within the terms of the CVA proposals
• Prepare statutory reports for creditors and any creditors’ committee
• Communicates with relevant stakeholders such as HM Revenue and Customs
• Negotiating final settlements and dividend payment to enable a CVA to be closed without resorting to Liquidation.
July 2006 – September 2008 - Insolvency Service - Examiner
• Investigating the conduct of directors of insolvent companies with a view to issuing disqualification proceedings.
• Analysing the books and records, business affairs and bank accounts of insolvent companies for evidence of misconduct on the part of company directors.
• Fraud investigations have included:
o Phoenix Fraud
o Trading to the detriment of the Crown
o Trading whilst insolvent
o Factoring Fraud
o Intermingling of company and personal affairs
o Obtaining credit with no intent of repayment
o Insufficient books and records
o Transactions at an undervalue
o Abrogation of duty
• Evaluating the evidence and deciding on the viability of instituting disqualification proceedings.
• Liaising with Crown departments, creditors, banks, and company accountants to gather evidence in preparation for the disqualification proceedings.
• Identify and realise any assets of liquidated companies for the benefit of creditors
• Draft detailed allegations against company officers based on evidence uncovered for example failure to maintain books and records, trading with knowledge of insolvency, trading to the detriment of the Crown etc.
• Draft of director disqualification reports in terms of the Director Disqualification Act 1986.
• Deal with Bankruptcy restrictions orders and undertakings.
• Deal with HMRC, Insolvency Practitioners and creditors.
• Prepare Report to Creditors.
• Manage own portfolio of cases.
September 2005 – July 2006 - Bolton, Salford & Trafford MH NHS Trust - Reference Cost Co-ordinator
• Collated and produced statutory annual costs return to strict timetable
• Reported to Head of Management Accounts
• Identified costs and pressures and reconciled activity data
January 2005 – September 2005 - Cheshire & Wirral NHS Partnership - Assistant Management Accountant
• Budget setting and control;
• Coding and analysing income and expenditure
• Advising service managers of causes of budget variances
• Assisting with preparation of statutory accounts
• Providing training to non-financial managers
• Assisting with production of budget booklet
April 2004 – January 2005 - Bolton, Salford & Trafford MH NHS Trust - Assistant Management Accountant
• Budgetary control and financial reporting/analysis
• Inputting monthly budget/financial adjustments into ledger system
• Investigating queries in all departments regarding financial information
• Conducted ad-hoc financial analyses as required
February 2004 – April 2004 - ABN-AMRO International Bank - Expenses Assistant
• Project to analyse and monitor international expense claims, producing reports and working with external auditors
August 2002 – September 2003 - The Mustang Inn Corp. Houston, Texas - Assistant Manager
‘Gap year’ project with US hotelier
• Assigned to various branches to undertake a range of managerial responsibilities
• Organised administration systems, trained staff and dealt with maintenance issues
• Complied with internal financial systems and devised operational budgets and cash flow forecasts
June 2000 – September 2001 (Summer) - Peninsular Business Services Ltd - Research Analyst
• Internship role conducting legal and factual research and data analysis using a wide range of hard copy and electronic sources.
• Assisted in drafting and reviewing contracts under guidance of contract development specialists
July 1996 – September 1998 (Summer) - Betesh Fox & Co – Solicitors - Administrative Assistant
• Established and maintained files, databases, records and other documents, typed memos, documents and reports and assisted with filing