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Insolvency practitioner

Index 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. [1]

21 relations: Accountant, Administration (law), Association of Chartered Certified Accountants, Bankruptcy, Chartered Accountants Ireland, Company voluntary arrangement, Individual voluntary arrangement, Insolvency, Insolvency Act 1986, Insolvency Practitioners Association, Insolvency Service, Institute of Chartered Accountants in England and Wales, Institute of Chartered Accountants of Scotland, Law Society of Scotland, Lawyer, Liquidation, Official receiver, Protected trust deed, Receivership, Secretary of State for Business, Energy and Industrial Strategy, United Kingdom.

Accountant

An accountant is a practitioner of accounting or accountancy, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resource(s).

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Administration (law)

As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to bankruptcy in the United States.

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Association of Chartered Certified Accountants

Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA or FCCA).

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Bankruptcy

Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors.

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Chartered Accountants Ireland

Chartered Accountants Ireland was established by Royal Charter on 14 May 1888, and is Ireland's largest accountancy body.

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Company voluntary arrangement

Under UK insolvency law an insolvent company can enter into a company voluntary arrangement (CVA).

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Individual voluntary arrangement

In England and Wales, an individual voluntary arrangement (IVA) is a formal alternative for individuals wishing to avoid bankruptcy.

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Insolvency

Insolvency is the state of being unable to pay the money owed, by a person or company, on time; those in a state of insolvency are said to be insolvent.

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Insolvency Act 1986

The Insolvency Act 1986 is an Act of the Parliament of the United Kingdom that provides the legal platform for all matters relating to personal and corporate insolvency in the UK.

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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.

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Insolvency Service

The Insolvency Service is an executive agency of the Department for Business, Energy and Industrial Strategy with headquarters in London.

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Institute of Chartered Accountants in England and Wales

The Institute of Chartered Accountants in England and Wales (ICAEW) was established by royal charter in 1880.

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Institute of Chartered Accountants of Scotland

The Institute of Chartered Accountants of Scotland (ICAS) is the world's first professional body of Chartered Accountants (CAs).

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Law Society of Scotland

The Law Society of Scotland is the professional governing body for Scottish solicitors.

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Lawyer

A lawyer or attorney is a person who practices law, as an advocate, attorney, attorney at law, barrister, barrister-at-law, bar-at-law, counsel, counselor, counsellor, counselor at law, or solicitor, but not as a paralegal or charter executive secretary.

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Liquidation

In United Kingdom, Republic of Ireland and United States law and business, liquidation is the process by which a company is brought to an end.

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Official receiver

An officer of the Insolvency Service of the United Kingdom, an official receiver (OR) is an officer of the court to which he is attached.

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Protected trust deed

A protected trust deed, overseen by the Accountant in Bankruptcy, is a voluntary but formal arrangement that is used by Scottish residents where a debtor (who can be a natural person or partnership) grants a trust deed in favour of the trustee which transfers their estate to the trustee for the benefit of creditors.

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Receivership

In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in cases where a company cannot meet financial obligations or enters bankruptcy.

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Secretary of State for Business, Energy and Industrial Strategy

Her Majesty's Principal Secretary of State for Business, Energy and Industrial Strategy (DEBEIS), or informally Business Secretary, is a cabinet position in the United Kingdom government.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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Redirects here:

Insolvency Practitioner.

References

[1] https://en.wikipedia.org/wiki/Insolvency_practitioner

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