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<p>For the official receiver, the amount of time an investigation takes is dependent
on the size and complexity of the business. As this is a large and complex case, it
is not possible at this early stage to specify a timeframe. Should the official receiver
find any evidence of director misconduct this would be referred to the Insolvency
Service for further investigation. The Secretary of State has not received any provisional
conclusions from the investigation, nor would he expect to do so from either the official
receiver or the insolvency service. Investigations by the official receiver and the
insolvency service are conducted separately from Ministers, as is the making of decisions
arising from investigations on any possible prosecution or director’s disqualification.</p><p>For
the Financial Reporting Council, the timing of the investigation depends on the size
and complexity of the issues to be considered, but will be taken forward as quickly
as possible. At the conclusion of an investigation, the matter may be referred to
an independent tribunal which the FRC would convene for the purpose of hearing the
case and determining final sanction.</p>
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