Keeps getting worse for Salford's Chair of Audit.
The administrators have said it is likely that claims will be brought in respect of "claims for repayment of overdrawn drawings, claims for unpaid capital contributions [and] claims for breach of duty and breaches of the Limited Liability Partnership Agreement."
How will they determine who to bring claims against? Well, this will depend upon "the position of the individual member, whether they remained a member at the date of the administration, their involvement in the running of the business and their knowledge of the financial position”.
For the former Managing Partner, there when the iceberg hit and who was primarily responsible for managing the business during its "troubles", this might appear not to bode well.
It has also been alleged that Mr Austin may have been reported to the Solicitors Regulation Authority.
More to follow.
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