A Licensed Insolvency Practitioner (IP) plays a critical role in managing insolvency processes and helping businesses navigate financial distress in the United Kingdom. Their expertise is pivotal in advising directors, creditors, and other stakeholders on the best course of action during times of financial difficulty. This article, brought to you by Simple Liquidation—one of the UK's top five most appointed insolvency practices—explores the role, responsibilities, and qualifications of a Licensed Insolvency Practitioner.
Insolvency resolution process can only be conducted by experienced individuals. These individuals are known as Insolvency professionals. Appointed by the corporate debtor, these professionals conduct the entire process in a streamlined fashion.
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