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These type of situations need to be looked at. We have numerous firms out there that would have been able to take these cases on that would gladly have jumped at the opportunity to take on additional cases and run this work off.

Instead, what we have done is allow another firm, with the assistance of Mr Hosking, to walk off with a load of work and only pay 30% of its true value and leave £2m debt to effectively to be written off.

There has to be something wrong in the world where a company can sit in the middle and negotiate this type of deal and bill £300K and yet £2m worth of debt gets written off!

The files that were transferred to Metcalfes should have been maximised so that more money were secured for the creditors, plain and simple.