Guidance

Succession planning: insolvency practitioner guidance paper

The insolvency practitioner has an obligation to ensure that cases are properly managed at all times. This includes contingency planning.

Detail

Insolvency appointments are personal to an insolvency practitioner, who has an obligation to ensure that cases are properly managed at all times, and to have appropriate contingency arrangements in place to cover a change in the insolvency practitioner’s circumstances. The overall principle is that the interests of creditors and other stakeholders should not be prejudiced.