I am pleased
to be joining the Insolvency Practices Council at a time of considerable
change and challenge for the Insolvency profession, both because of the
implementation of the Enterprise Act and, less happily, because of the
rapid growth of individual insolvencies.
First, I must express my warm
appreciation of and respect for the work done by my predecessor, Graham
Kentfield, and his colleagues in the first five years of the IPC's life.
Together they have created a public interest body, which is listened
to and respected by all involved in insolvency work.
As the review of
the IPC’s past work at the end of this report
shows, most of the recommendations made by Graham and his colleagues
on the standards of conduct of the IP profession have been accepted and
implemented to the benefit of those who have dealings with them. The
acceptance of the IPC’s recommendations on the treatment
of the matrimonial home in bankruptcies is a particular high point.
welcome two new lay members to the IPC, John Hanlon and Malcolm Watkins
and also two new professional members Peter Souster and Ritchie Campbell.
its first meeting in 2005 the IPC discussed what our priorities should
be this year. Clearly, the IPC always has to be ready to respond to external
developments and we look forward, in particular, to seeing the results
of the Insolvency Service’s Working
Party review of IVAs. Apart from this, we have decided to focus our efforts
on three main points:-
- Working with the IS and the RPBs to see whether regular and
can be produced on the outcomes of IVAs. (This point is covered in
in one of our 2004 Recommendations agreed with my predecessor).
with the JIC on how to achieve greater consistency and harmonization
in the way the RPBs regulate, monitor and discipline the profession.
include discussions with the JIC on their proposals for a revised
- Reviewing the
way in which IPs and the RPBs handle complaints from the
members of the public they deal with.
We will continue,
as in the past, to keep in touch with all parts of the insolvency profession
and with all those who have regular dealings with them.
Chairman (from 1st January 2005)