Interview with Dorjana Xhamaqi, 2025 Richard Turton Award winner
IPA Insolvency Practitioner newsletter, December 2025
1. Congratulations Dorjana! What does winning the Richard Turton Award mean to you personally and professionally?
“Thank you very much again for the kind invitation to participate in your interview for your members’ e-newsletter. I truly appreciate the opportunity and I am happy to contribute. For me, receiving the Richard Turton award is really meaningful on both a personal and professional level.
On a personal level, it reminds me that my path has not always been straight, but my goals have always been straight. I believe that behind every great piece of work, there is an even greater passion that motivates me to continue to improve every day, making a positive impact on others and the entire professional community. This award reminds me that every effort always leaves a mark.
Professionally, this award represents a new standard I set for myself; it is a responsibility to continue giving my best. It is not only a crowning of success but also a commitment to stay dedicated to the values that brought me here. It reminds me that true value does not lie in the trophy you hold in your hand but in the person you become on the way to achieving it.
More than just an award, it is a clear message that my work had an impact, touched someone, and provoked thought, and that is the most beautiful feeling for anyone who tries to give something from the heart.”
2. What made you choose a career in insolvency and what are your aspirations in the field?
“My choice to pursue a career in insolvency stems from an empirical approach, because in every business that struggles to survive, I see the faces of the employees who wake up each morning hoping for a calmer day, I see the families who depend on that work, I see the partners eagerly awaiting the next update and I see the entire long chain that trembles when a company goes bankrupt.
This profession allows me to combine critical thinking, empirical analysis, and the ability to manage complex situations with ethics and integrity.
I want to gain extensive knowledge in this field and apply my skills to provide solutions based on my experience, thus helping those facing significant challenges in achieving stability and growth.
I aim to provide solutions that create meaningful change, positively influence individuals’ lives, and demonstrate that even in the face of significant challenges, there is always a possibility to rebuild and move forward. This profession consistently reminds me that success is not measured only in numbers but in the impact we leave on others and the way we face challenges.”
3. Could you share a little about your research topic and what inspired you to explore it?
“My research topic was “Bankruptcy and its Psychological Impact on Individuals: Challenges and Opportunities for Growth” focusing on how financial challenges and insolvency processes affect the mental health, decision-making, of individuals and business teams.
What pushed and inspired me to research this topic further was not only the existing theories or literature but also my practical experience referring to my 7 years of experience in this field. By looking closely at how financial uncertainty, time pressure, and legal challenges affect people, I realised that bankruptcy is not simply an economic or legal process, it deeply affects the psychology, emotions, and how individuals cope with losses and difficult decisions. This process is an emotional journey for all those affected.
My goal was to highlight these psychological impacts, showing how people can cope with loss, maintain emotional stability and make conscious decisions even in the most challenging moments.”
4. What key insights from your work do you think are most relevant to today’s insolvency profession?
“In my opinion and based on my experience, legal and financial knowledge is the foundation of the bankruptcy process, as one must understand the laws, regulations, balance sheets, and procedures in order to act correctly and effectively.
Second, I have come to understand the importance of clear and honest communication with all parties involved, like creditors, debtors and institutions, because bankruptcy processes require transparency and ongoing cooperation.
Third, as I have discussed extensively in my research, psychological knowledge and the ability to understand the emotional impact of bankruptcy on individuals and teams are equally important. Bankruptcy is not just a technical process; it affects people’s lives, decision-making, and workplace dynamics, and an excellent professional must know how to manage these challenges with empathy and awareness.
In my personal assessment, the combination of technical, psychological and practical knowledge are the qualities that a professional in this field must possess to help businesses and individuals go through the bankruptcy process in a fair and sustainable manner.”
5. Finally, what advice would you give to future applicants considering putting themselves forward for the Award?
“Additionally, my advice to future candidates is not to underestimate their practical experience. I encourage them not to be afraid to share the challenges they have faced, as often the greatest value of their research or experience lies precisely there. Even a small step can be enough to demonstrate your value and potential. In the end, I advise them to follow their passion with confidence and dedication, because work done with heart is always the work that shines the brightest.”