An insolvency practitioner - now and again abridged to IP - is somebody who is authorized to follow up in the interest of organizations and people when they are confronting bankruptcy or intense monetary misery.

In most of cases, an organization chief will deliberately move toward an IP and enroll their assistance in managing their bothered organization. In issues of necessary liquidation, the courts will designate an Official Receiver who will go about as the temporary outlet. They may later demand that a bankruptcy practitioner be delegated to take the liquidation forward.