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 lawyers, but it is not necessary to be qualified as either, as since 1986 there has been a direct entry route to the profession.

Read more about Insolvency Practitioner:  Insolvency Is A Regulated Profession, Trade Body, Procedures Requiring An Insolvency Practitioner