The following Statements of Insolvency Practice are relevant for insolvency procedures for Northern Ireland.
SIP 1: AN INTRODUCTION TO STATEMENTS OF INSOLVENCY PRACTICE
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SIP 2: INVESTIGATIONS BY OFFICEHOLDERS IN ADMINISTRATIONS AND INSOLVENT LIQUIDATIONS
- effective 6 April 2016 View
- effective 6 April 2016 View
SIP 3: VOLUNTARY ARRANGEMENTS
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SIP 4: DISQUALIFICATION OF DIRECTORS
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SIP 7: PRESENTATION OF FINANCIAL INFORMATION IN INSOLVENCY PROCEEDINGS
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SIP 8: SUMMONING AND HOLDING MEETINGS OF CREDITORS CONVENED PURSUANT TO ARTICLE 84 OF THE INSOLVENCY (NORTHERN IRELAND) ORDER 1989
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SIP 9: REMUNERATION OF INSOLVENCY OFFICEHOLDERS
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SIP 10: PROXY FORMS
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SIP 11: THE HANDLING OF FUNDS IN FORMAL INSOLVENCY APPOINTMENTS
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SIP 12: RECORDS OF MEETING IN FORMAL INSOLVENCY PROCEEDINGS
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SIP 13: ACQUISITION OF ASSETS OF INSOLVENT COMPANIES BY DIRECTORS
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SIP 14: A RECEIVER'S RESPONSIBILITY TO PREFERENTIAL CREDITORS
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SIP 15: REPORTING AND PROVIDING INFORMATION ON THEIR FUNCTIONS TO COMMITTEES IN FORMAL INSOLVENCIES
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SIP 16: PRE-PACKAGED SALES IN ADMINISTRATIONS
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SIP 17: AN ADMINISTRATIVE RECEIVER'S RESPONSIBILITY FOR THE COMPANY'S RECORDS
Effective from 2 May 2011 View
Effective from 2 May 2011 View
Changes to the Statement of Insolvency Practice 3.1 – Individual Voluntary Arrangements (13 January 2023)
The principal changes in the revised SIP 3.1 relate to the degree of emphasis on the IP’s responsibility to ensure that the debtor has received suitable advice prior to entering an IVA and during its implementation. This includes ensuring that the debtor is aware of all potential debt relief solutions available and that they are provided with adequate time to think about the consequences and the options available before instructing an IVA to be drawn up. View
The principal changes in the revised SIP 3.1 relate to the degree of emphasis on the IP’s responsibility to ensure that the debtor has received suitable advice prior to entering an IVA and during its implementation. This includes ensuring that the debtor is aware of all potential debt relief solutions available and that they are provided with adequate time to think about the consequences and the options available before instructing an IVA to be drawn up. View
Further Information & Articles
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