What is an Insolvency Practitioner?
A licensed Insolvency Practitioner (IP) has a wide range of duties about companies that are struggling financially.
In the first instance, an insolvency practitioner can provide company directors with professional advice in pre-insolvency situations to try and rescue a business and keep it on track. At the other end of the spectrum, where a company is insolvent, an IP could be appointed to take complete control of the company before closing it down.