Insolvency practitioners are facing an overhaul in the way licences are granted after a review of the licensing system proposed by their professional body last week.
Insolvency Practitioners Association (IPA) president Richard Long said the current system created a major burden of regulation and increased the costs for creditors. He told trade body R3’s conference he would produce a more efficient, cost-effective and constructive framework for the benefit of all those affected by insolvency.
He said IPA would shortly begin consultation with members and representatives from the creditor and debtor communities and he expected to present the first conclusions at an IPA Members' Conference in Spring 2004.
