An insolvency practitioner (IP) in Ireland is a licensed professional who is authorised to act in formal insolvency appointments — including liquidations, receiverships, and the SCARP process. IPs carry out a range of functions depending on the appointment: investigating company affairs, realising and distributing assets, negotiating with creditors, and reporting to regulatory authorities. They must be licensed by a recognised professional body and are subject to strict ethical and regulatory obligations. Beyond formal appointments, many insolvency practitioners also work as corporate advisors, helping businesses in financial difficulty before a formal process becomes necessary. Early engagement with an IP as an advisor is often the best way to avoid a formal appointment.
