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Encouraging Company Rescue

The IPC, an independent body representing the public interest in insolvency matters, expressed its scepticism on the financing proposals put forward that might override the security and legitimate expectations of other secured lenders. The IPC also doubted whether the measures would be effective in attracting new money given the shortage of credit available in the …

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IPC 2008 Annual Report

This is the latest IPC annual report, published on 4 April 2009. It makes recommendations concerning: – the accessibility of Individual Voluntary Arrangements (IVAs); – the need for statistics on Debt Management Plans; – compliance by IPs with Statement of Insolvency Practice 16 (SIP16) on pre-packaged administrations; – independent review of complaints handling by the …

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Further Complaints Research

The new study consisted of a factual comparison of the complaints and disciplinary systems of the insolvency regulators (including any differences between them) with the Bar Standards Board, the General Medical Council (incl PCTs) and the Royal Institution of Chartered Surveyors. It also looked at the system put in place by the Financial Ombudsman Service …

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Complaints Research

A legal team from Nottingham Law School was awarded a 6-month contract to research the complaints and disciplinary procedures of the insolvency profession. Professors Adrian Walters and Mary Seneviratne investigated current procedures as a first step towards ensuring that they are adequate to meet a burgeoning industry. The research looked at complaints handling by individual …

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Inside Money

The programme featured a lady on disability benefit, who had amounted debts (mainly on credit cards) of £36,000 and had been put into an IVA which required her to contribute £300 per month. The IVA failed after a year so she became bankrupt – all her payments thus far going on fees with nothing to …

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Insolvency Information

The Insolvency Practices Council is a public interest body established to influence the professional and ethical standards of insolvency practitioners. It consists of a majority of lay members, meets several times a year and publishes an annual report. It works closely with the Joint Insolvency Committee, which contains representatives from all the Recognised Professional Bodies …

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