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Insolvency Practitioner and Business Recovery Professionals

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Simple Liquidation
Insolvency Practitioner and Business Recovery Professionals

Currently, there are approximately 1,600 licensed insolvency practitioners (IPs) licensed and registered in the UK. The majority of IPs work for legal or accountancy firms, or for a dedicated business recovery and insolvency practice. The role of an insolvency practitioner involves more than just liquidating solvent and insolvent companies. They are also very much involved in business recovery and insolvency rescue plans.

With predictions of corporate insolvencies being much higher in the first two quarters of 2021 due to the coronavirus pandemic – some are saying a potential 60% increase over the global financial crisis of 2009 – IPs are in demand. To help, the Government recently announced extensions to certain measures that are aimed at protecting directors and their companies who have been impacted by COVID-19.

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