What is an Insolvency Practitioner?

An Insolvency Practitioner is an officer of the court who is licensed by an authorised regulatory body to undertake formal insolvency appointments within the United Kingdom.

In order to obtain an insolvency licence an individual must pass Joint Insolvency Examination Board (“JIEB”) exams to demonstrate that they have the required technical knowledge to carry out the role, and subsequently be granted a licence by a regulatory body, having met their criteria, which is usually based upon holding your JIEB qualification, having sufficient practical experience working the in the field, and the recommendation of established peers within the industry.

Insolvency Practitioners are currently licensed by the Insolvency Service (usually only government employees known as Official Receivers), the Institute of Charted Accountants in England & Wales (“ICAEW”), the Insolvency Practitioners Association (“IPA”) and the Solicitors Regulation Authority (“SRA”). The Association of Chartered Certified Accountants (“ACCA”) previously provided licences, but now works in tandem with the IPA.

At Chamberlain & Co, we are optimally placed to advise directors of struggling companies what they can do to optimise the position for the Company and themselves. Similarly we are able to provided acquisition advice when businesses are being bought out of insolvency situations.

We are often instructed by entrepreneurs and owner managers to assist them in these situations. We have won national industry awards for turnaround and restructuring.