Business Recovery and Insolvency Practitioner of the UK

There are about 1,600 licensed insolvency practitioners (IPs) in the UK; that doesn’t include the support staff in the background that assist the UK’s IP in providing comprehensive, professional and highly-experienced insolvency practitioner services for businesses across the country.

But IPs don’t just deal with liquidating companies; they are also business recovery professionals, i.e. helping to rescue businesses that are struggling with debt. Liquidation is not always the only option for an insolvent company. If an IP is called in early enough, it is possible to rescue the company from closing using other formal insolvency procedures – administration, receivership and company voluntary arrangements (CVAs).

What is an insolvency practitioner?

Firstly, let’s quickly explain what an insolvency practitioner is– an IP is a qualified, licensed and authorised practitioner that acts on behalf of an insolvent (or solvent in some cases) company in either liquidating the business, i.e. closing it down, or managing a business rescue process.
The ICAEW (Institute of Chartered Accountants in England and Wales) is the largest regulator of insolvency practitioners and business recovery professionals in the UK. A licensed IP is authorised to advise on and take on IP appointments in formal insolvency procedures, such as CVAs, company administrations and receiverships and liquidation processes. Read more...
Location: London, UK

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