EAs hold the booking deposits so plenty of client money there. Not to mention rental agents collecting rent.
I had forgotten EAs and their client account.
But I think that you’re mixing up two different issues. A lot of EAs and rental agents collecting rent are working through Limited Liability Companies. An undischarged bankrupt can’t act as a director anyway
What Hall is alluding to is taking away someone’s livelihood by virtue of them becoming bankrupt. i.e. they cannot be practice as a solicitor - I’ve no idea if the 1954 act is the relevant act but it mentions the lunacy and the bankruptcy stuff.
The Courts are generally in a lot of ways very lenient when it comes to livelihood. They’ll let a lot of shysterism go on before they take away a man’s right to earn one.
funnily enough, a reliable source was telling me over the summer of several partners in her big 4 firm who had to retire upon reaching 65 who still had mid 7 figure debt to work through (syndicates etc); of course they couldn’t declare bankruptcy while practicing and now have earning potential vastly diminished
i could well believe that