Insolvency Service should concentrate on regulating recognised professional bodies, not interfering with individual IPs
Insolvency has become a dirty word as far as commerce and even the general public are concerned. The profession has found itself the target of public uproar as the industry makes money for its rescue or recovery services.
Business minister Ian Lucas has called for pre-pack administrations to be revised because of unfavourable public perception, while there has also been numerous claims that fees charged by insolvency practitioners (IPs) are too high.
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