BusinessBusiness RecoveryNew body to protect rights of creditors

New body to protect rights of creditors

A creditors' rights organisation has been launched at the same time as the arrival of the government's new bankruptcy regime.

Link: Personal bankruptcies set to soar

The Insolvency Creditors Association (ICA) opened for business with perfect timing to enable it to comment on the changes introduced under the Enterprise Act, dubbed a ‘bankrupt’s charter’ by critics.

The ICA signalled it would pull no punches, accusing the Treasury of creating ‘a stealth tax of the worst kind’ by increasing charges on bankrupt estates.

The organisation said it would promote the interests of creditors by ensuring their better involvement and representation in the insolvency process.

Nick Oliver, head of insolvency at Blake Lapthorn Linnell and vice-president of the IPA, said: ‘The law envisages creditors taking an active role in the insolvency process. This is not what has tended to happen in practice and our aim is to try to change that.’

The IPA will be headed up by Stephen Hunt, partner at Griffins, who will act as president.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

4d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

4d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor