Insolvent couple help inspire Act

6:36pm Wednesday 7th February 2001

A Finchley company chairman whose "world collapsed" when his business was unexpectedly put into receivership is the inspiration behind a new Insolvency Act.

Jeff Lampert, former chairman of the housewares distribution company Heritage, was taken "completely by surprise" when his company was declared insolvent and bailiffs evicted him from his house in May 1999.

However, the Department of Trade and Industry's new act as a response to cases including Mr Lampert's will give people in similar situations some "breathing space" before the receivers are called in.

Mr Lampert, now living in Kingsgate Avenue, Finchley, said: "Before this I was a 24 hours a day seven days a week businessman. I lost everything in a day.

My wife and I were thrown out of our house and left totally high and dry after only one day's notice."

Finchley and Golders Green MP Rudi Vis, who has been lobbying Parliament on Mr Lampert's behalf, said: "The new insolvency legislation will commence on April 1. Major changes concerning insolvency include a grace period 28 days in which solutions for so-called insolvent firms, such as Mr Lampert's, can be found.

"His compensation is that he has substantially contributed to the change of insolvency. However, Mr Lampert and I will fight further for his case."

Mr Lampert, who is now setting up an organisation to help companies monitor their banking arrangements, added: "Rudi has been brilliant over the past few years.

With his help it now looks like justice will be done."

Mr Lampert's case is currently being re-examined by the Institute of Chartered Accountants in England and Wales.

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