Michelle Thorp, CEO

Other articles (Insolvency Practitioner, February 2021):

• Michelle Thorp, CEO
• Kevin Hellard, President
• Important reminder: Extraordinary General Meeting
• IPA Annual Conference
• New Joint Insolvency Committee role for the IPA 
• Renewals
• ICO Data Sharing Code
• A reminder for members who deal with IVAs
• Changes to IPA membership criteria
• Business continuity and support
• Debt Relief Orders consultation
• Proposed FCA guidance for Insolvency Practitioners: How to approach FCA-regulated firms
• Insolvency Service guidance on monitoring Insolvency Practitioners: advertisements, marketing and debt advice  
• Vacancy for a Disciplinary Chair of the Disciplinary and Appeals Committee
• Vacancy for a Head of External Affairs and Business Development
• Update: HMRC Enforcement and Insolvency Services phone lines
• IPA rules review

Hello everyone. I hope that February’s newsletter finds you well.

I write this following the release of the CPI and CPPI exam results from the sitting in November. I was pleased to note this year’s particularly strong pass rate.

I know that the exam this year was not easy and I am extremely sorry for those who had a difficult time. Covid restrictions meant we moved to online exams at a far quicker pace than we would ever have wanted to do in more normal times, and then technical issues on the day compounded what was a challenging experience for many. I am extremely grateful to the examiners who took those issues into consideration in their marking of the exam. Despite the difficult circumstances, this year saw a record pass rate. Very well done to everyone who took part.

We are proud of the CPI exam and its recognition as a leading insolvency qualification. We are committed to supporting our student members who sit the exam, and we have recently launched the Young Professionals Network to help nurture our student members’ careers through tailored events.

Next June’s exam will remain online, as this offers the best way of making sure students can continue to sit an exam, irrespective of the Covid restrictions that may or may not be in place, including on international travel. Any issues raised for this first exam will be addressed in the forthcoming June sitting.

Staying with our exams but on a different note, you may be aware that the IPA offers the CPCI exam (Certificate of Proficiency in Corporate Insolvency). Launched in 2013, the CPCI covers general insolvency procedures but is more focused on areas specific to corporate insolvency, such as administrations, CVAs, PVAs, CVLs and MVLs.

Taking into account the rise in corporate insolvencies, and the expectation that this may continue, now may be the time to consider capability in your teams and whether colleagues may benefit from taking this exam. You can find out more about the CPCI here.

Annual Conference 

I look forward to 28 April’s Annual Conference and joining IPA Board members Kevin Hellard (President), Samantha Keen (Vice-President), and Neil Bennett for a panel session on strategic change and changing environments. Insolvency was in the spotlight pre-pandemic, and when you also consider the legislative change last year, new ways of working for IPs and developments such as the new Ethics code and the focus on public interest regulation, I think we will be in for quite the discussion!

I also look forward to a session with Angela Crossley, Head of Insolvency Practitioner Regulation at the Insolvency Service, as well as an exploration of dealing with crypto assets from Aidan Larkin, CEO of Asset Reality; a talk on why we need to save charities from the University of Liverpool’s Prof. John Tribe; and our panel session on attracting younger people to the profession with Board members Louise Brittain and Maurice Moses. Members can expect further communications with updates and bookings going live on the IPA website soon. I hope that we will see you there.  

After a successful round of events in 2020, many of which were brand new that year, we are working to build on this and offer members even more comprehensive learning opportunities. I am delighted by our progress so far. What particularly helps us is member feedback. If there is something you would like to share with us, do get in touch on events@ipa.uk.com.  

I am also looking forward to spring’s launch of our IPA Learning events, a set of short educational sessions on topics including the SIPs update and the ‘breathing space’ moratorium. More details to follow – view our full events calendar here.

EGM

Members should have earlier this month received our invitation to join the Extraordinary General Meeting (EGM). The meeting is a chance for you to agree to extend the terms of our office holders (the President, Vice-President, Deputy Vice-President and Immediate Past President) for a year.

The proposal has been put forward to allow the office holders more time to fulfil their terms in office more than they have been able to so far. As you may know, office holders’ terms normally last one year, beginning and ending at the yearly AGM; the proposal, if approved, would see their terms extended for a year (concluding at 2022’s AGM).  

Click here to view the notification, and please note the deadline of midday on 19 February to submit your proxy form if you are unable to attend the meeting virtually on the day (Monday 22 February 2021). 

I hope you enjoy reading this month’s newsletter.

Michelle