Who are insolvency practitioners (IPs)?
IPs work in the private sector. They are usually accountants or solicitors. They must be authorised by the Department of Enterprise, Trade and Investment or by one of the Recognised Professional Bodies (RPBs) before they can act as IPs. The majority of IPs are authorised by RPBs. IPs acting as administrative receivers, administrators or liquidators in creditors’ voluntary liquidations, report evidence of unfit conduct by directors in those proceedings to The Insolvency Service’s Directors Disqualification Unit.
