Solicitor handed 15-year bankruptcy restriction after £9m loss Submitted on 16.06.2010

Jonathan Gilbert, a conveyancing solicitor from Berkshire has signed a bankruptcy restrictions undertaking for causing a £9m loss to his creditors and has agreed to abide by the restrictions for the maximum 15-year period following an investigation by The Insolvency Service.

In signing his undertaking Mr Gilbert, a resident of Windsor, who worked from an office in Maidenhead agreed he had abused the trust of his clients and ‘breached his duties as a practising solicitor’ leading to debts of at least £9m.

Mr Gilbert, who was declared bankrupt in June 2009, had assets of £144,145.00.  The major claims against Mr Gilbert related to the receipt and disposal of funds received from a mortgage lender for approximately £4m, and a claim from  Willmetts Solicitors, Mr Gilberts previous employers (who have now gone into administration), for almost £5m.

Mr David Gordon the Official Receiver at Cardiff said “The fact Mr Gilbert has agreed to a 15-year bankruptcy restrictions order, the maximum time available, should reassure the public that when bankrupts are found to have acted against the public interest, and in this case abused their professional position The Insolvency Service will take action to impose sanctions against them.”

The bankruptcy restriction accepted by Mr Gilbert is the maximum term possible.   

At the time Jonathan Gilbert was declared bankrupt (24 June 2009) he was described as unemployed and residing at Arosfa, Michaelston Road, St Fagans, Cardiff, CF5 6DW.  Lately residing at 25 Trinity Place, Windsor, Berkshire, SL4 3AP. Lately carrying on business at Willmett Solicitors, 34-38 Broadway, Maidenhead, Berkshire, SL6 1LU

The Insolvency Service administers the insolvency regime, investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they became insolvent.

The Service also authorises and regulates the insolvency profession; deals with disqualification of directors in corporate failures; assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees; provides banking and investment services for bankruptcy and liquidation estate funds; and advises ministers and other government departments on insolvency law and practice.