173:
After the breakup of Vantis, Hamilton-Smith and
Wastell transferred to the buyout firm FRP Advisory, and continued their legal fight to be reinstated as liquidators of Stanford. However, the Eastern Caribbean Court of Appeal confirmed their removal in May 2011, and the case was passed to Marcus Wide
221:
raided the homes of senior executives of Vantis following enquiries into the legitimacy of a tax avoidance scheme being promoted by the firm. Three senior executives were reportedly interviewed under caution. Subsequently, in
October 2009, Roy Faichney and David Perrin were suspended and later
126:
bought Vantis
Financial Management, one business recovery office and three business advisory and tax offices for £4.46 million. The remaining business advisory and tax offices were sold separately to the local partners, and various small specialist businesses were also sold.
169:
In June 2010, the High Court of
Antigua resolved that Vantis should be removed from its responsibilities. The firm, which had recently received government approval to sell the property assets, appealed the decision.
107:, although the company declined to confirm this. Paul Jackson then resigned as Chief Executive on 12 June, and on Monday 14 June Vantis' shares were suspended due to uncertainty over its financial position.
881:
871:
114:
on 29 June 2010, and on the same day substantially all of its businesses were sold by the administrators, FTI Consulting. Most of the business recovery arm was sold to its own management in a
866:
876:
421:
456:
100:
However, by
February 2010 its work as liquidator of Stanford International Bank raised doubts as to whether it would receive payment for the high-profile appointment.
560:
65:
Vantis was formed as a "consolidator", inviting existing small local accountancy partnerships to join it and become part of a national company. It was listed on the
269:
623:
646:
764:
537:
489:
335:
84:
to employ staff part-time who also did audit work for an associated partnership. Numerica had been the UK member of the global accountancy network
886:
592:
745:
801:
365:
186:
Vantis were the administrators of the company that owns the
Energie and Miss Sixty fashion brands. The company returned to normal operations.
155:
Limited and
Stanford Trust Company Limited from 19 February 2009 and were made liquidators of Stanford International Bank on 15 April 2009.
437:
397:
49:, providing accounting, tax and business advice to owner-managed businesses, listed companies, not for profit organisations,
453:
557:
66:
784:
76:. Numerica was one of the first consolidators, led by former firm Levy Gee; at a time when audit work was restricted to
604:
310:
266:
175:
620:
250:
712:
643:
166:
emerged as an important part of the company's assets, to be sold to enable payment of creditors and Vantis' own fees.
152:
761:
534:
290:
223:
189:
Two creditors made a claim that they had been treated unfairly, and the High Court judge stated that there was a
50:
667:
206:
57:
on 29 June 2010 and promptly broken up, with the various offices and businesses being sold as going concerns.
831:
194:
81:
327:
131:
728:
506:
28:
696:
518:
162:
expressed concern about whether Vantis would receive payment for its work on
Stanford. Properties in
111:
54:
103:
In June 2010, Vantis was reported to be considering disposals of part of its business to reduce its
231:
115:
357:
209:
to prepare a statement of financial affairs, detailing the assets and liabilities of the club.
85:
234:. Both were convicted in 2012; Perrin was jailed for 18 months and Faichney for four years.
159:
73:
768:
650:
627:
564:
541:
460:
392:
314:
273:
93:
476:
387:
860:
72:
In 2005 it took over struggling competitor
Numerica, selling some of the offices to
148:
119:
190:
77:
38:
850:
307:
230:
tax relief. They denied the charges and commenced action against Vantis for
147:
Vantis executives Nigel
Hamilton-Smith and Peter Wastell acted as the joint
123:
104:
91:
As of 2010 Vantis was ranked the 13th largest accountancy firm in the UK by
675:
294:
227:
17:
163:
46:
130:
The administrators expected to pay general creditors 9p in the pound.
226:
by Vantis after HMRC charged them with offences relating to abuse of
205:
Vantis was appointed in February 2010 by the owners and the board of
197:
which should be considered by the administrators' professional body.
42:
118:
for £11 million, resulting in the creation of a new business,
835:
88:
since 2002, so Vantis succeeded as the UK member of the network.
802:"Ex-Vantis Faichney joins Perrin in jail over charity tax fraud"
762:
Vantis accountants appear in court accused of tax evasion scheme
218:
853:, information posted by the joint administrators of the company
509:, Vantis/FTI press release, 29 June 2010. Retrieved 2010-07-12.
621:
Antigua court wants to remove Vantis from Stanford liquidation
593:
Stanford International Bank Limited Placed into Liquidation
583:, Antigua and Barbuda. News Archive. Retrieved 2010-06-09.
580:
697:
Young fashion label Miss Sixty goes into administration
882:
Companies formerly listed on the London Stock Exchange
644:
Stanford liquidators fight to stay on after Vantis MBO
27:"Numerica" redirects here. For the credit union, see
595:, BusinessWire, 16 April 2009. Retrieved 2010-06-09.
477:
Vantis raises going-concern doubts, shares suspended
257:, 8 Jul 2010. Includes "Timeline of Trouble" 2009-10
872:
Financial services companies disestablished in 2010
267:
Vantis method of consolidation unlikely to reappear
785:Tax scheme suspects Faichney and Perrin sue Vantis
454:Vantis looks to restructure to reduce debt burden
317:, AccountingWEB, 3 May 2005. Retrieved 2010-06-07
308:Consolidators consolidate as Vantis buys Numerica
867:Financial services companies established in 2002
548:, 15 September 2010. Retrieved 20 September 2010
713:Miss Sixty administrators accused of misconduct
877:Defunct accounting firms of the United Kingdom
479:, Reuters, 14 June 2010. Retrieved 2010-06-14.
832:"Former official website of HLB Vantis Audit"
668:"Stanford investors challenge court decision"
8:
438:Vantis could sell part of firm to cut debts
422:Vantis counts cost of Stanford fraud affair
53:and other professionals. It was placed in
571:, 15 Sep 2010. Retrieved 20 September 2010
507:Going concern business sales of Vantis plc
417:
415:
581:Financial Services Regulatory Commission
251:Vantis sale process months in the making
243:
605:Antiguan assets give Vantis a lifeline
558:HMRC to lose £10m from Vantis collapse
634:, 11 June 2010. Retrieved 2010-06-11.
134:stood to write off £10 million.
7:
611:, 22 Apr 2010. Retrieved 2010-06-09.
535:FRP took on £11m of debt from Vantis
467:, 4 June 2010. Retrieved 2010-06-09.
444:, 4 June 2010. Retrieved 2010-06-09.
400:from the original on 2 December 2010
368:from the original on 27 January 2016
338:from the original on 27 January 2016
752:, 24 Dec 2006. Retrieved 2013-07-24
525:, 1 Jul 2010. Retrieved 2010-07-12.
428:, 2 Feb 2010. Retrieved 2010-06-14.
158:In February 2010, Vantis' auditors
791:, 5 May 2010. Retrieved 2010-07-12
775:, 4 Nov 2009. Retrieved 2010-07-12
25:
746:Tax raid on stars’ charity scheme
729:Portsmouth on brink of insolvency
744:Robert Winnett and Holly Watt,
887:2002 establishments in England
674:. 14 July 2011. Archived from
328:"Numerica stirs new audit row"
1:
67:Alternative Investment Market
153:Stanford International Bank
143:Stanford International Bank
903:
519:RSM buys Vantis businesses
51:high-net-worth individuals
26:
490:"Statement re suspension"
213:Allegation of tax evasion
293:. Vantis. Archived from
207:Portsmouth Football Club
201:Portsmouth Football Club
122:LLP. Rival consolidator
195:professional misconduct
82:publicly listed company
132:HM Revenue and Customs
494:London Stock Exchange
29:Numerica Credit Union
388:"The Top 50 in 2010"
364:. 14 February 2002.
358:"HLB joins Numerica"
334:. 14 November 2001.
174:and Hugh Dickson at
80:, it was the first
69:(AIM) in May 2002.
767:2010-07-10 at the
735:, 20 February 2010
649:2010-07-05 at the
626:2010-08-20 at the
563:2010-09-18 at the
540:2010-09-18 at the
459:2010-06-07 at the
313:2011-07-16 at the
272:2010-07-24 at the
232:wrongful dismissal
116:management buy-out
838:on April 20, 2009
808:. 24 October 2012
297:on 27 March 2009.
160:Ernst & Young
86:HLB International
16:(Redirected from
894:
847:
845:
843:
834:. Archived from
818:
817:
815:
813:
798:
792:
782:
776:
759:
753:
742:
736:
726:
720:
710:
704:
703:, 1 October 2008
694:
688:
687:
685:
683:
672:Antigua Observer
664:
658:
641:
635:
618:
612:
602:
596:
590:
584:
578:
572:
555:
549:
532:
526:
516:
510:
504:
498:
497:
486:
480:
474:
468:
451:
445:
435:
429:
419:
410:
409:
407:
405:
384:
378:
377:
375:
373:
354:
348:
347:
345:
343:
324:
318:
305:
299:
298:
287:
281:
264:
258:
248:
182:Sixty UK Limited
74:BDO Stoy Hayward
21:
902:
901:
897:
896:
895:
893:
892:
891:
857:
856:
841:
839:
830:
827:
822:
821:
811:
809:
806:Accountancy Age
800:
799:
795:
789:Accountancy Age
783:
779:
773:Accountancy Age
769:Wayback Machine
760:
756:
743:
739:
727:
723:
717:Accountancy Age
711:
707:
695:
691:
681:
679:
678:on 19 July 2012
666:
665:
661:
655:Accountancy Age
651:Wayback Machine
642:
638:
632:Accountancy Age
628:Wayback Machine
619:
615:
609:Accountancy Age
603:
599:
591:
587:
579:
575:
569:Accountancy Age
565:Wayback Machine
556:
552:
546:Accountancy Age
542:Wayback Machine
533:
529:
523:Financial Times
517:
513:
505:
501:
496:. 14 June 2010.
488:
487:
483:
475:
471:
465:Accountancy Age
461:Wayback Machine
452:
448:
436:
432:
420:
413:
403:
401:
393:Accountancy Age
386:
385:
381:
371:
369:
362:Accountancy Age
356:
355:
351:
341:
339:
332:Accountancy Age
326:
325:
321:
315:Wayback Machine
306:
302:
289:
288:
284:
278:Accountancy Age
274:Wayback Machine
265:
261:
255:Accountancy Age
249:
245:
240:
215:
203:
184:
145:
140:
138:Notable clients
110:Vantis entered
94:Accountancy Age
63:
32:
23:
22:
15:
12:
11:
5:
900:
898:
890:
889:
884:
879:
874:
869:
859:
858:
855:
854:
848:
826:
825:External links
823:
820:
819:
793:
777:
754:
737:
721:
705:
689:
659:
636:
613:
597:
585:
573:
550:
527:
511:
499:
481:
469:
446:
430:
411:
379:
349:
319:
300:
291:"About Vantis"
282:
280:, 22 Jul 2010.
259:
242:
241:
239:
236:
214:
211:
202:
199:
183:
180:
176:Grant Thornton
144:
141:
139:
136:
112:administration
62:
59:
55:administration
41:firm based in
24:
14:
13:
10:
9:
6:
4:
3:
2:
899:
888:
885:
883:
880:
878:
875:
873:
870:
868:
865:
864:
862:
852:
849:
837:
833:
829:
828:
824:
807:
803:
797:
794:
790:
786:
781:
778:
774:
770:
766:
763:
758:
755:
751:
747:
741:
738:
734:
730:
725:
722:
719:, 23 Jul 2010
718:
714:
709:
706:
702:
698:
693:
690:
677:
673:
669:
663:
660:
657:, 30 Jun 2010
656:
652:
648:
645:
640:
637:
633:
629:
625:
622:
617:
614:
610:
606:
601:
598:
594:
589:
586:
582:
577:
574:
570:
566:
562:
559:
554:
551:
547:
543:
539:
536:
531:
528:
524:
520:
515:
512:
508:
503:
500:
495:
491:
485:
482:
478:
473:
470:
466:
462:
458:
455:
450:
447:
443:
439:
434:
431:
427:
423:
418:
416:
412:
399:
395:
394:
389:
383:
380:
367:
363:
359:
353:
350:
337:
333:
329:
323:
320:
316:
312:
309:
304:
301:
296:
292:
286:
283:
279:
275:
271:
268:
263:
260:
256:
252:
247:
244:
237:
235:
233:
229:
225:
220:
212:
210:
208:
200:
198:
196:
192:
187:
181:
179:
177:
171:
167:
165:
161:
156:
154:
150:
142:
137:
135:
133:
128:
125:
121:
117:
113:
108:
106:
101:
98:
96:
95:
89:
87:
83:
79:
75:
70:
68:
60:
58:
56:
52:
48:
44:
40:
36:
30:
19:
840:. Retrieved
836:the original
810:. Retrieved
805:
796:
788:
780:
772:
757:
750:Sunday Times
749:
740:
732:
724:
716:
708:
700:
692:
680:. Retrieved
676:the original
671:
662:
654:
639:
631:
616:
608:
600:
588:
576:
568:
553:
545:
530:
522:
514:
502:
493:
484:
472:
464:
449:
441:
433:
425:
402:. Retrieved
391:
382:
370:. Retrieved
361:
352:
340:. Retrieved
331:
322:
303:
295:the original
285:
277:
262:
254:
246:
216:
204:
188:
185:
172:
168:
157:
146:
129:
120:FRP Advisory
109:
102:
99:
92:
90:
78:partnerships
71:
64:
34:
33:
191:prima facie
39:accountancy
861:Categories
851:Vantis plc
404:6 December
238:References
105:bank loans
35:Vantis plc
842:April 17,
682:3 January
442:The Times
426:The Times
224:dismissed
149:receivers
124:RSM Tenon
765:Archived
733:Guardian
701:Guardian
647:Archived
624:Archived
561:Archived
538:Archived
457:Archived
398:Archived
366:Archived
336:Archived
311:Archived
270:Archived
228:Gift Aid
217:In 2006
193:case of
18:Numerica
812:26 July
372:25 June
342:25 June
164:Antigua
61:History
47:England
37:was an
43:London
844:2009
814:2013
684:2012
406:2010
374:2022
344:2022
219:HMRC
151:of
863::
804:.
787:,
771:,
748:,
731:,
715:,
699:,
670:.
653:,
630:,
607:,
567:,
544:,
521:,
492:.
463:,
440:,
424:,
414:^
396:.
390:.
360:.
330:.
276:,
253:,
178:.
97:.
45:,
846:.
816:.
686:.
408:.
376:.
346:.
31:.
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.