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As news reaches us from The Guardian that thousands of firms are facing financial difficulty news also reaches the blog on the progress of the quango cull. As noted previously on this blog the Insolvency Practitioners' Tribunal (IPT) has been earmarked for possible abolition by the quango cutting administration. The latest news notes that the IPT is, "Under consideration - As part of Insolvency Service consultation on licensing of insolvency practitioners to be issued November 2010." It will be interesting to see how the IPT is dealt with in the forthcoming consultation.
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...