An Overview of Insolvency Practitioner Services in the UK
As of 2021, there are around 1,600 licensed insolvency practitioners (IPs) in the UK; that doesn’t include the thousands of support staff in the background that help every single one of the UK’s IP in providing comprehensive, professional and highly-experienced insolvency practitioner services for businesses and individuals across the country. But what is involved in delivering insolvency practitioner services and exactly what services do IPs provide? Let’s take a deeper look into the role of an IP. What is an insolvency practitioner? Let’s start with an explanation of what an insolvency practitioner is – it is someone that is qualified, licensed and authorised to act on behalf of a person, partnership or company that is either insolvent, as well as a solvent company. Insolvency practitioners generally work within a law firm, an accountant or a specialist insolvency practice. To practice as an IP, they must: Have passed the relevant insolvency, or JEIB (Joi...