Please select a page from the Report Members of the Insolvency Practices Council Chairman's Report Review of Activities during the year Personal Sector Issues Commercial Sector Issues General Issues Future Plans Progress of Recommendations 2000, 2001 Recommendations Glossary Acknowledgments

Commercial Sector Issues

The IPC remains concerned at the level of transparency about fees and disbursements charged by insolvency practitioners. It welcomes the revision to SIP 9 and whilst the IPC feels that it did not go as far as it requested, it will look at the effects of the current changes as time goes by.

The issue of potential conflicts of interest where a network association exists is still under review and we await the outcome of the deliberations of the ethics sub committee of the JIC and the Law Society and the Law Society of Scotland.

Many of the larger businesses in this country are in a position to obtain professional advice when they face problems and if failure is inevitable then an insolvency practitioner will normally be involved. The small businesses, sole traders and small partnerships remain vulnerable and cannot always afford to seek advice when they feel their interests are not being properly considered in the run up to insolvency. There does not seem to be any conduit for them to obtain support. The IPC has spoken to the Institute of Directors and the Federation of Small Businesses and there does not appear to be any appropriate channel for help. Again, this is an issue that we intend to pursue in 2003.

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