In the Insolvency Practice League Table for 2017, we published the rankings of the top 100 corporate insolvency appointment taking insolvency practices operating in England, Scotland and Wales. The league table is created using advertised appointments and cross-referenced against numerous sources to verify the accuracy of the data.
2017 presented us with an interesting challenge. One practice moved within the rankings, from a local practice to become the practice with the most advertised corporate insolvency appointments in England, Scotland and Wales combined, surpassing even Begbies Traynor Group, by a significant margin.
B&C Associates are a practice operating out of Edgeware in London. Our analysis of their appointments in 2017, revealed more than 1500 appointments were advertised in that calendar year by B&C Associates.
Further analysis revealed that 96.4% of these cases in 2017 were working with companies with the same registered address, from the 2nd floor of Princess Mary House in Hertford. Common directorships were found in the sample of cases that we checked using data extrapolated from our online platform, Insolytics 360, and from Companies House.
We also found that the same accountant, CGLS Accountancy Ltd were named on the models of incorporation on the sample of records that we checked. CGLS registered address is also based at the 2nd floor of Princess Mary House in Hertford.
Figure 1.2 – Running total of corporate insolvency appointment count by month – 2017 data
Why we didn’t include B&C Associates as number one in the top 100 Insolytics insolvency practice league table.
We are not satisfied that 96.4% of a caseload coming from the same registered address should qualify a practice to be in the top 100 of the league tables – to be absolutely clear, Insolytics is an independent company, and the league tables are published free of external influences. We need to make editorial decisions as to what should and should not be included in the table. By and large, we make very few editorial decisions, and when we do make them, we will be transparent with the industry on how that decision has been made. We operate under the guiding principle of letting the data speak for itself and that ‘an appointment is an appointment’. However, in cases such as the above, we aspire to ensure that the integrity of the league table is maintained.
Figure 1.1 – Corporate appointment count by month – 2017 data
We are continuing our review of advertised appointments and will provide more information as it emerges.
Publically available data is dealt with by human administrators, and a small margin of error is, therefore, to be expected. We have a number of automated and manual steps in place to validate and check data, cross-referencing numerous data sources. We use data and analytics best practices to maintain the integrity of our database, however, a small margin of error is impossible to avoid. Our standard disclaimer applies.