Insolvency practitioner

A person acting, in relation to a company, as its liquidator (www.practicallaw.com/3-107-6771), provisional liquidator (www.practicallaw.com/2-107-7078), administrator (www.practicallaw.com/2-107-6366) or administrative receiver (www.practicallaw.com/4-107-6365) or as a supervisor of a company voluntary arrangement (www.practicallaw.com/9-107-5957). Also, a person acting in relation to an individual as his trustee in bankruptcy (www.practicallaw.com/6-107-7420). Only persons qualified to act as insolvency practitioners under the Insolvency Act 1986 may act. In order to qualify, an insolvency practitioner must be an individual who is authorised to act as an insolvency practitioner by a recognised professional body, which has practice rules specifying the matters to be taken into account in deciding whether a person is fit and proper to act as an insolvency practitioner. In practice, insolvency practitioners are almost always accountants.

For further information, see the Insolvency Service (www.practicallaw.com/T755) website.

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