- insolvency practitioner
An individual authorised under the Insolvency Act 1986 to act in insolvency matters, appointed either by a recognised professional body or relevant authority.
Easyform Glossary of Law Terms. — UK law terms.
- insolvency practitioner
A person acting, in relation to a company, as its liquidator, provisional liquidator, administrator or administrative receiver or as a supervisor of a company voluntary arrangement. 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 website: .Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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insolvency practitioner — inˈsolvency pracˌtitioner noun [countable] ACCOUNTING LAW in Britain, a person or organization that can by law act for a company that is declaring itself to be insolvent (= unable to pay its debts): • The company consulted an insolvency… … Financial and business terms
Insolvency practitioner — In the United Kingdom, only an authorised or licensed Insolvency Practitioner (usually abbreviated to IP) may be appointed in relation to formal insolvency procedures. Quite often IPs have an accountancy background. A few active practitioners are … Wikipedia
insolvency practitioner — A person authorized to undertake insolvency administration as a liquidator, provisional liquidator, administrator, administrative receiver, or nominee or supervisor under a voluntary arrangement. Insolvency practitioners must be members of an… … Accounting dictionary
insolvency practitioner — A person authorized to undertake insolvency administration as a liquidator, provisional liquidator, administrator, administrative receiver, or nominee or supervisor under a voluntary arrangement Insolvency practitioners must be members of an… … Big dictionary of business and management
authorised insolvency practitioner — a person legally permitted to carry through certain duties in relation to an insolvency. The Insolvency Act 1986 introduced a system of licensing to ensure the professional competence and skill of insolvency practitioners in individual and… … Law dictionary
Insolvency — means the inability to pay one s debts as they fall due. Usually used to refer to a business, insolvency refers to the inability of a company to pay off its debts. Business insolvency is defined in two different ways: Cash flow insolvency Unable… … Wikipedia
practitioner — UK US /prækˈtɪʃənər/ noun [C] ► someone who works in a job that involves long training and high levels of skill: »He has years of experience as a senior practitioner in the financial services industry. »a health/legal/medical practitioner → See… … Financial and business terms
Insolvency Practitioners Tribunal — the tribunal to which an insolvency practitioner may appeal if served with a notice that the competent authority proposes to refuse or withdraw authorisation. Collins dictionary of law. W. J. Stewart. 2001 … Law dictionary
Practitioner — A practitioner is someone who engages in an occupation, profession, religion, or way of life.A medical practitioner or registered medical practitioner refers to occupations such as * Physician * General practitioner, a primary care physician *… … Wikipedia
Insolvency Practitioners Association — The Insolvency Practitioners Association (IPA) is a professional body whose purpose is to inform and regulate insolvency practitioners (IPs) within the UK and Ireland. There is a similar organization in Australia.HistoryFormed in 1961 as a… … Wikipedia