IP Qualification Profiles January - Singapore

Appointment In most insolvency cases the government’s Official Assignee or Official Receiver is appointed to administer the insolvency. Usually the IP appointed is similar for different types of appointments. However, their qualifications do differ. For example: • For members’ voluntary liquidation – an approved IP need not be appointed. • Court ordered or creditors’ voluntary liquidator – must be an approved liquidator • Receiver – must be an approved liquidator • Judicial manager – a public accountant who is not the auditor of the company. The same IPs deal in respect of insolvent insurance companies.