The Irish Society of Insolvency Practitioners (the “Society”) was established in 2004 by a number of leading insolvency practitioners to provide, amongst other things, a forum for the consideration and discussion of the practice and law of insolvency in Ireland, with a particular focus on enhancing the knowledge and expertise of its members. The Society does not have a regulatory function or role in relation to its members and/or their conduct.
From a relatively low member base in 2004, the Society’s membership has grown steadily over the intervening years with the Society now boasting a membership in excess of 350.
The Society’s members are principally drawn from the accountancy and legal professions in Ireland and provide specialist advice in relation to both contentious and non-contentious corporate restructuring and insolvency matters and personal insolvency arrangements/bankruptcy.
The Society is governed by its written constitution, a copy of which can be accessed here. The stated objects of the Society include the following:
- to provide a forum for consideration and discussion of the practice and law of insolvency;
- to promote the study and learning of insolvency law and practice, including the holding of seminars; and
- to liaise with and make recommendations on behalf of members to government and regulatory authorities, in connection with reform and other developments of the law governing insolvency and related practice.
Since its inception in 2004, the Society has proactively represented the interests of its members in its dealings with both government and regulatory authorities on necessary reforms to specific areas of insolvency law. In 2015, a representative of the Society, upon the invitation of Minister Bruton, was appointed to the Company Law Reform Group.
The affairs of the Society are governed by an elected Council of not more than nine members, at least three of whom are legal advisers and three of whom, at least, are insolvency practitioners other than legal advisers. Members of the Council are elected for a period of three years, and are eligible for re-election. The Council meets on a monthly basis.
The current members of the Council are as follows: