Tue, 27 Nov 2012 | ADMINISTRATION
Following the collapse of the Harley Medical Group, Neil Bennet and Andrew Duncan, partners at accountancy firm Leonard Curtis, have stepped in to arrange a pre-pack administration for the business.
The result of the arrangement was a new company called Aesthetic and Cosmetic Surgery, which was bought by Harley's former management and RCapital. Despite the name change, the business continues to trade as Harley Medical Group.
Problems arose for the group amid the faulty PIP breast implant scandal, which saw around 1,700 women seek compensation from Harley following their surgery. This type of claim is not protected by indemnity insurance, pushing the group towards collapse under the claims.
By regrouping as Aesthetic and Cosmetic Surgery, the Harley Medical Group doesn't exist, protecting it from claims.
A spokesman for the group said: “The situation with the PIP implants wasn't of our making; it arose as a result of a sophisticated fraud, by the suppliers of these implants, perpetrated over a long period of time that went undetected by the regulators for 12 consecutive years.
"Despite ourselves also being a victim of this fraud, we were also faced with liabilities arising from a class action that we simply wouldn't have been able to survive. This is why we believe that the action that has been taken remains the only action, in the prevailing circumstances, that could have been taken in the best interests of our PIP and other patients."
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