IPA Roadshows

The Insolvency Practitioners Association (IPA) is running a series of regional IPA Roadshows across the UK during 2014.

IPA Roadshows

The dates for these Roadshows are:
10 June – Bristol
18 June – Leeds
19 June – Manchester
8 October – Birmingham
15 October – Belfast
22 October – London
12 November – Edinburgh

Booking details are available on the IPA’s website:

The IPA is the membership body and regulator for those specialising in insolvency practice, and the only recognised professional body specialising solely in insolvency.  Its principal aim is to promote and maintain standards of performance and professional conduct amongst those engaged in insolvency practice.  The IPA currently licenses in excess of 500 Insolvency Practitioners in the UK.

IPA Annual Conference

The Insolvency Practitioners Association, the membership body and regulator for those specialising in insolvency practice, held its IPA annual conference at The Royal Institution in London on the 8th May 2014, with an audience of around 150 Insolvency Practitioners (IPs) and others in attendance.

The IPA is the only recognised professional body specialising solely in insolvency. Its principal aim is to promote and maintain standards of performance and professional conduct amongst those engaged in insolvency practice.  The Theme of the Conference this year was The Changing Landscape for Insolvency Practitioners.

IPA Annual Conference

Steph McGovern
BBC BreakFast Business Presenter

The keynote speech was given by the BBC’s Business Reporter, Steph McGovern, on signs of recovery and the economic outlook generally, which included entertaining personal anecdotes based on her numerous interviews with business leaders across the UK.

Earlier, Nick Howard, Head of IP Regulation at the Government’s Insolvency Service, had begun the morning session with an informative update on the hot topics under review at the Insolvency Service, including the regulatory regime and IP fee structures. Following the regulatory theme, the Chief Executive of the Institute of Credit Management, Philip King, led a discussion on creditor expectations in insolvency cases whilst Raquel Agnello QC of Erskine Chambers and leading lay contributor on the IPA’s Investigation Committee provided insight into the role of lay members and the benefits their input can bring to regulation.

The morning session was concluded with announcements from the IPA’s Chief Executive, David Kerr, regarding the IPA’s move towards a lay majority in its complaints decision-making and new procedures being put in place to improve transparency and confidence in the complaints process.
New IPA President, Mark Fry of Begbies Traynor, said “This, and other steps we are taking to strengthen our complaints handling, will help us demonstrate impartiality in our processes and send a strong signal to Government and to those who use the complaints system that we are serious about taking the measures necessary to preserve and build greater confidence in the regulation regime.”

Mark Fry hosted a panel session with guest speakers from a leading commercial Bank, a venture capitalist fund and a peer to business lender. Discussions centred upon future lending sources for businesses and other factors affecting the changing landscape for IPs and their roles in helping companies and individuals in financial difficulty.

Mark Fry concluded the conference with his outlook for the forthcoming year. Mark anticipates a challenging year ahead for the insolvency profession and for the many businesses and individuals still struggling to pay-off debt, but is determined to ensure that the IPA continues to support its members, starting with a new series of regional roadshows next month in Bristol, Leeds and Manchester, the latter to include announcements from the Government’s review of pre-pack administrations.

Late Payment causes 20% of Insolvencies in the UK

Late payment by customers for goods and services is a primary or major factor in one-in-five corporate insolvencies, according to a ComRes Survey commissioned by R3, an insolvency trade body.

The UK isn't alone - see this article on late payment in the Malta TimesLiz Bingham, R3’s president, says: “Even if a business has a great business model and great products and services, it won’t actually be profitable or successful until it gets paid for what it sells. Late payment is a threat that businesses need to take very seriously indeed.  The late payment problem can have significant knock-on effects within the economy too. The failure of one company can lead to even more unpaid bills and financial problems for others.”

The survey also found that 47% of corporate insolvency practitioners had seen at least one instance of late payment being a primary or major factor in a business’ failure in the last year, with 59% saying that the construction sector had the worst track record for paying bills on time.  In 2012, one-in-five liquidated companies in England & Wales were in the construction sector.

Liz Bingham adds: “The construction sector is notorious amongst insolvency practitioners for its late payment problems, which are almost endemic to the sector. Businesses in the sector are also particularly vulnerable to insolvency. Almost every quarter, the construction sector sees the highest number of liquidations.  A high number of insolvencies and a late payment problem aren’t a coincidence. Action on late payment would result in a healthier construction sector.”

Only 5% of corporate insolvency practitioners identified the wholesale and retail sectors as the worst offenders on late payment; manufacturing, the public sector, and hotels and restaurants were each identified as the worst late-payers by just 3% of corporate insolvency practitioners.

ComRes interviewed 293 R3 members online between 9th December 2013 and 17th January 2014. 275 of those surveyed work on corporate insolvency.  ComRes is a member of the British Polling Council and abides by its rules.    Data tables are available on the ComRes website, www.comres.co.uk