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Overview of Key Insolvency Regimes

Kimberley Piper Associate Berwin Leighton Paisner LLP sets out a brief description of the different types of insolvency procedure under English law and an explanation of commonly used terms
Who are insolvency practitioners (IPs)?
Certain insolvency appointments namely those of supervisor of a voluntary arrangement administrator administrative receiver or liquidator may only be taken by IPs being persons holding authorisation from a recognised professional body; broadly the Institute of Chartered Accountants in England and Wales the Chartered Association of Certified Accountants the Law Society and the Insolvency Practitioners Association. With the exception of the roles of the Official Receiver in compulsory liquidation and a...

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