Daniels Silverman petition attracts over 500 signatures in just one week

Aug. 16, 2011 - PRLog -- The petition is campaigning for more statutory force to be given to the Statement of Insolvency Practice (SIP 16) along with penalties for non-compliance in order to help prevent abuse of the pre-pack administrations system by companies seeking to avoid debt.

Among the signatories were a number of SME businesses who have fallen victim to debtors using pre-pack administrations as a way to avoid paying monies owed.  

Carole Hughes, managing director, Daniels Silverman says:
“By the end of the first day we had received over 300 signatures and in the last year, many Daniels Silverman clients have told us of their frustration when hopes to recover debts have dwindled because debtor companies have been dissolved. Their annoyance is compounded when the companies are reformed in a very similar guise, but with no debts payable.

“Tougher legislation is therefore urgently needed to clampdown on those that abuse the system and that’s why we are urging companies and industry stakeholders to sign our petition.

“Statutory force would enable the Insolvency Service to police the industry and ensure IPs fulfil their duty to consider the interests of creditors.  If enough business owners and stakeholders sign our petition then we stand a high chance of getting the government to rethink the current rules and clamp down on these rogue directors to protect small, honest businesses.”

The petition is live at www.danielssilverman.co.uk/petition.php.

Ends

For further information please contact:

Nicolle Farthing / Emma Murphy / Lianne Robinson
Broadgate Mainland
Tel: 020 7726 6111
DanielsSiverman@broadgatemainland.com

About Daniels Silverman
Daniels Silverman is a national credit management agency that has been providing professional debt recovery services since 1995. It specialises in business debt collection and consumer debt recovery on a no recovery no fee basis.

Daniels Silverman has developed a unique debt recovery IT system and unrivalled debt recovery processes for fast and cost effective debt collection.

Daniels Silverman is committed to delivering professional, ethical debt recovery services. It holds an Office of Fair Trading Licence and is a member of the Credit Services Association.

Website
http://www.danielssilverman.co.uk/

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Founded in 1994, Broadgate Mainland is an award-winning company that specialises in financial services public relations.