Complaining about Insolvency Practitioners ("IPs")
By the nature of the work they are involved in, IPs have to deal with contentious issues and have to make unpopular decisions. Before making a complaint this should be considered.
If a party is dissatisfied with the IPs conduct there are several courses that can be considered.
The first action to take is to make a formal complaint to the IP or their firm. Most firms have documented complaints procedures and these should be followed prior to escalating a complaint.
IPs are regulated by a number of authorising bodies. These bodies (known as Recognised Professional Bodies or RPBs) are responsible for monitoring compliance with regulations and best practice. RPBs will not normally get involved where a complaint relates to commercial decisions taken or where it is more appropriate that the matter is dealt with by the courts. For example it is unlikely that a complaint would be considered by an RPB in relation to an IP disputing a creditor claim.
Depending upon the 'complaint' the various legislation that governs the work of IPs may provide a method of recourse - for example by application to court or by requiring the convening of meetings of creditors. Legal advice should be sought in this respect.
The RPB of the IP can be found at the Insolvency Service website and the addresses of the complaints departments are as follows:
Institute of Chartered Accountants in England and Wales, Professional Conduct Directorate, Silbury Court, 412-416 Silbury Boulevard, Central Milton Keynes, Buckinghamshire, MK9 2AF.
Department of Trade and Industry, Secretary of State, Insolvency Practitioner Unit, 4th Floor, Ladywood House, 45/6 Stephenson Street, Birmingham B2 4UP.
Insolvency Practitioners Association, 52-54 Gracechurch Street, London, EC3V 0EH.
Association of Chartered Certified Accountants, 29 Lincoln's Inn Fields, London, WC2A 3EE.
Institute of Chartered Accountants of Scotland, CA House, 21 Haymarket Yards, Edinburgh, EH12 5BH.
