insolvency-practice-referral-coordination

Referral & Coordination — Insolvency Practice

Refer creditors, directors and insolvent businesses onward and coordinate with other professionals and services. The deliverable is a referral pack and a coordination log with responses tracked. This skill is written for a insolvency practitioner working with creditors, directors and insolvent businesses in an insolvency firm and courts.

When to use

• You are a insolvency practitioner preparing, delivering or reviewing this part of your work in an insolvency firm and courts.
• You need a defensible, repeatable approach that produces a referral pack and a coordination log with responses tracked.
• A colleague, auditor or client asks how this was done and what evidence supports it.

Key Concepts

Term	Meaning
Statement of affairs	a statement of an insolvent party's assets and debts
Dividend	a payment to creditors from realised assets
Liquidation	winding up a company and selling its assets

Workflow

1. Step 1 - Confirm the referral is appropriate: what creditors, directors and insolvent businesses need that sits outside the insolvency practitioner scope in an insolvency firm and courts
2. Step 2 - Prepare the referral from statutory reports — relevant history, current status, the specific question being asked
3. Step 3 - With consent, send the referral and log who received it and when; chase non-responses on a set schedule
4. Step 4 - Share incoming findings back into the main record so the plan and case progression stay joined up
5. Step 5 - Close the loop with creditors, directors and insolvent businesses: explain what happens next, who owns it, and what to do if things worsen — mindful of missed statutory deadlines

Profession-Specific Components

Component	Details for Insolvency Practice
Core documentation	statutory reports; statement of affairs; creditor correspondence; asset realisation records
Core tools & equipment	case management systems; creditor portals; asset registers; banking platforms
People involved	creditors, directors and insolvent businesses; the insolvency practitioner; colleagues and other services in an insolvency firm and courts
Primary record	statutory reports — keep it current, dated and attributable

Output Format

Context: [Situation in an insolvency firm and courts] | Objective: [What this must achieve] | Audience: [creditors, directors and insolvent businesses and other stakeholders]

The finished output is a referral pack and a coordination log with responses tracked, structured as:

1. Summary of position and evidence
2. Detail, following the workflow above
3. Decisions, actions, owners and dates
4. Review point and escalation route

Action Plan

1. Immediate: Confirm scope, consent and the evidence available in statutory reports.
2. Short-term: Complete the workflow steps and record outcomes against case progression.
3. Medium-term: Review results, close actions, and update local procedures in an insolvency firm and courts.

Success Metrics

Metric	Target	Method
case progression	Agree a local target and track the trend	Measured from statutory reports and reviewed on a set cycle
creditor dividend rates	Agree a local target and track the trend	Measured from statutory reports and reviewed on a set cycle
report deadline compliance	Agree a local target and track the trend	Measured from statutory reports and reviewed on a set cycle
asset recovery rates	Agree a local target and track the trend	Measured from statutory reports and reviewed on a set cycle

Guardrails & Quality Checks

• Never let this happen: missed statutory deadlines.
• Never let this happen: asset dissipation.
• Never let this happen: creditor complaints.
• Work only within the competence and authority of a insolvency practitioner; escalate or refer anything beyond it.
• Record facts and observations, not speculation, and keep records confidential to an insolvency firm and courts's rules.
• Verify names, dates, figures and measurements twice before anything is issued or signed off.
• Use only real, verified information from the case in hand — never invent results, credentials or evidence.

Example (illustrative)

A insolvency practitioner in an insolvency firm and courts applies this workflow for creditors, directors and insolvent businesses: they open statutory reports, work through the five steps using case management systems, and close by recording the outcome against case progression and agreeing the next review date. (Illustrative example only — replace with the real details of the case in hand.)