Really sad day for all the staff who have been left behind. 

Any jobs going?

But no follow on comms received… this lot really are the pits. Still the axiom directors all have new jobs to start hence they needed the SRA to intervene today so they can resign and slither off. Before the administrator was ready and before their comms were ready… are the staff being paid, what are redundancy terms or is the tax payer picking up all of those costs as well and the staff receiving one final kick in the balls. Never mind as long as Prags’ nodding donkeys get to start their new jobs in the morning and forget about this little aberration 

It's a relief to see that the Director that circulated the above email managed to get their resignation as a Director lodged at companies house in time today, but not to provide the promised FAQ or redundancy letters.

Thank goodness a lot of file handlers now have closure can't work on claims with no professional indemnity afterall. 

Its the support staff I really feel for. I heard finance have been told they will be there till the very end.

Just make them redundant for god sake the poor support staff have been through enough how long will they drag this out!

The note on Friday told you all you need to know about who will be paying any redundancy. 
it won’t be axiom.

It was always going to end like this.  I feel very sorry for those who’ve got nothing lined up.

Nobody wants insurance fixed fee “loss leader” work.  Everybody knows it doesn’t lead to the good work.  It just leads to administration. 

For those who have found alternative positions - well done.  But for pity's sake, put a helping hand out to those fee-earners and admin staff who have, for one reason or another, got stuck in this hellish situation

The directors will get their comeuppance- the administrator will get them for trading insolvently, the SRA will have them for intervention costs and the employees will have them for lack of redundancy process and being left high and dry. Hopefully each of them gets declared personally bankrupt quickly. 

Has the axiom finance director been arrested yet? He can hold the soap in the showers for Prags. 

What the administrators who sold to Prags?  Or the Administrators appointed by Prags? 

Anonymous 03 October 23 08:51

I'm afraid that's wishful thinking.  I suspect they will all get away scott free

It doesn’t seem that anyone has actually received their notice of redundancy yet, or the promised FAQs, and now nobody can access their emails anymore!

@Blind faith - I am a legend !! Yup! SRA’s already approved it 

Majority of staff just received immediate termination of employment notice 

It's hard to imagine that people were fooled by our Lord and Saviour Praggy.

He had the aura of an annoying (and completely pointless) sideline character in GTA Vice City.

To 03 October 23 11:05 - true . On companies house the Axiom Ince Ltd directors are already opening up new companies - some incorporated on 22/09/23 ! The futures bright…. 

This is going to end up like the post office scandal.  Lots of gurning and hand wringing but ultimately nobody involved in the decision to sell to Prags will be found to be culpable.  

I wonder what their wives have to say about these s** obsessed wannabe Jordan Belforts who blew £64m of stolen money in London brothels for ti**y wa*ks. They are walking talking STD’s. Praggy and his nodding donkeys need to own up and face the consequences 

Dear Interpath, Pinsents and the donkey duo from the PE house 

How the f&ck did you get this so wrong? 
 

Regards,

Everyone whose lives you have shat on from a great height 

They couldn't give a damn for all the staff that were never asked or talked about. Staff in Wanstead who were running a friendly family firm Wiseman Lee unfortunately got grated chewed and spat out by Axiom. Nobody gave a damn about them. All of them today sitting unemployed. God help those poor people and many who are their own financial providers. Utterly selfish!! Karma!! 

@SFO

Together like peas and carrots. Miracles happen every day. Some people don’t think so, but they do. 

People don’t learn sigh!

https://www.globallegalpost.com/news/spencer-west-adds-19-strong-team-from-shuttered-axiom-ince-in-private-wealth-push-222437989

Letters for redundancy didn’t come in until Tuesday at 5pm, the SRA entered the business at 9.15am on Tuesday. No warning from the directors. An email was issued about how to go about getting monies that are owed to us and how to get our pensions back that they’ve stolen. Absolutely disgusting how we’ve all been treated, some of us still don’t have new jobs to go too but that’s OK because the partners who were meant to look out for us are all secure in new jobs! 

So presumably the remaining staff at Axiom Ince, who agreed to stay on to make the SRA and administrators jobs easier, who are now being told that the SRA will not allow any payment to be made to them can sue the SRA for breach of human rights legislation.  They arent even being offered minimum wage terms - apparently they should be working because they have a regulatory duty to do so - hahaha like the SRA has a regulatory duty to protect the reputation of the industry.  Presume creditors can also sue the SRA for wasting what little money is left on their intervention agents rather than utilising these staff who would have cost a fraction of that amount.  Presume clients can sue the SRA for failing to prevent Pragnesh's access to inflated funds despite the fact the SRA knew he was already taking funds.  And i presume the insurers will laugh in the face of the SRA when the SRA ask nicely for some money back.

This regulator is an absolute disgrace from top to bottom.  The staff they employ couldnt find there way out of a crisp packet, its no wonder they have got this wrong at every single stage of the process.  

“…walking talking STD’s” i actually LOL’d 🤣

The SRA need to reverse engineer this back beyond Axiom to the very start of Ince as the previous web of monies going amiss is far more and far more complex. But the truth is out there and there is an awful lot of money that can be recovered if the SRA piece the puzzle together from the web of smoke and mirrors.

Wiseman Lee was a long standing family firm which served its area well for more than 60 years.  The staff there didn't deserve this.  Maybe the SRA needs to start refusing to accredit firms who don't have a solid succession plan to focus minds and reduce the amount of prey for these accumulator firms.

If the administrators are appointed then I assume that they then take possession of all of the files. In effect the files belong to the creditors of the company. It may be possible or likely that some of the files still have outstanding work which needs to be completed, and could be sold off to another firm. 

The concern involves the circumstances where staff, and most importantly the Directors of the company who have left, have taken files with them, when they belong to the administrators. This needs to be investigated.

Probably about time staff all got in touch with ACAS with a view to lodging tribunal claims for redundancy payments and a major lack of consultation.. 

admin appointed.  funny how they avoided appointed Quantuma who no doubt caused all the issues. 

Axiom Ince in administration at last,  Discovered by chance today. No communications from directors. What a shock!

Hope this helps everyone get their redundancy pay

Hello. SFO have arrested 7 people. I have dirt on praggy to share 

I doubt they will be lacking in evidence (and dirt) on him they’ve interviewed the pragnificent 7.

I was always told not to trust bosses & landlords. Best advice ever received.