Vanguard Insolvency Practitioners Limited, along with three connected companies, MDN Consultancy Limited, Newtco Limited, and KIS Financial Consultancy Limited were wound up at the High Court in Manchester on 12 May 2022.

The petitions to wind up the firms were submitted to the court by the Insolvency Service after an investigation.

The Official Receiver has been appointed liquidator of the companies.

The High Court heard that Michael David Noblett was a director at Vanguard, which was a ‘volume’ individual voluntary arrangement (IVA) provider that allowed people in debt to come to an arrangement with their creditors to pay all or part of their debts.

The company charged customers a fee for facilitating their arrangements, which were supervised by Vanguard’s licensed insolvency practitioner. Vanguard traded from 2016 and used third-party suppliers to help administer the individual voluntary arrangements and realise debtors’ assets. By April 2020 Vanguard had more than 14,000 IVA cases under its management.

T