- in Britain, a person or organization that can by law act for a company that is declaring itself to be insolvent (= unable to pay its debts):
• The company consulted an insolvency practitioner and ceased trading three weeks later.
* * *insolvency practitioner UK US noun [C]► FINANCE, ACCOUNTING, LAW in the UK, a person or company that is legally able to help a company or organization that does not have enough money to pay debts, buy goods, etc.: »
The insolvency practitioner handling my affairs says I must sell our home in order to pay off the company debts.
Financial and business terms. 2012.
Look at other dictionaries:
insolvency practitioner — An individual authorised under the Insolvency Act 1986 to act in insolvency matters, appointed either by a recognised professional body or relevant authority. Easyform Glossary of Law Terms. UK law terms. insolvency practitioner … Law dictionary
Insolvency practitioner — In the United Kingdom, only an authorised or licensed Insolvency Practitioner (usually abbreviated to IP) may be appointed in relation to formal insolvency procedures. Quite often IPs have an accountancy background. A few active practitioners are … Wikipedia
insolvency practitioner — A person authorized to undertake insolvency administration as a liquidator, provisional liquidator, administrator, administrative receiver, or nominee or supervisor under a voluntary arrangement. Insolvency practitioners must be members of an… … Accounting dictionary
insolvency practitioner — A person authorized to undertake insolvency administration as a liquidator, provisional liquidator, administrator, administrative receiver, or nominee or supervisor under a voluntary arrangement Insolvency practitioners must be members of an… … Big dictionary of business and management
authorised insolvency practitioner — a person legally permitted to carry through certain duties in relation to an insolvency. The Insolvency Act 1986 introduced a system of licensing to ensure the professional competence and skill of insolvency practitioners in individual and… … Law dictionary
Insolvency — means the inability to pay one s debts as they fall due. Usually used to refer to a business, insolvency refers to the inability of a company to pay off its debts. Business insolvency is defined in two different ways: Cash flow insolvency Unable… … Wikipedia
practitioner — UK US /prækˈtɪʃənər/ noun [C] ► someone who works in a job that involves long training and high levels of skill: »He has years of experience as a senior practitioner in the financial services industry. »a health/legal/medical practitioner → See… … Financial and business terms
Insolvency Practitioners Tribunal — the tribunal to which an insolvency practitioner may appeal if served with a notice that the competent authority proposes to refuse or withdraw authorisation. Collins dictionary of law. W. J. Stewart. 2001 … Law dictionary
Practitioner — A practitioner is someone who engages in an occupation, profession, religion, or way of life.A medical practitioner or registered medical practitioner refers to occupations such as * Physician * General practitioner, a primary care physician *… … Wikipedia
Insolvency Practitioners Association — The Insolvency Practitioners Association (IPA) is a professional body whose purpose is to inform and regulate insolvency practitioners (IPs) within the UK and Ireland. There is a similar organization in Australia.HistoryFormed in 1961 as a… … Wikipedia