The IPA is pleased to support and endorse this R3 guidance note and hopes it will provide the assistance that practitioners have requested when preparing fee estimates and reporting to creditors.
This guidance does not constitute legal advice nor does it seek to instruct or direct practitioners to take, or avoid taking, any action. Practitioners should be aware that any guidance endorsed by the IPA cannot fetter the authority of its regulatory and disciplinary committees to make determinations about a practitioner's conduct.
The IPA accepts no liability in respect of actions that practitioners may take in accordance with this guidance, as it must be for each practitioner to be satisfied that his/her conduct meets the legal and professional requirements placed upon Office-Holders. Therefore, practitioners may consider it appropriate to seek independent professional advice in respect of the subject of the guidance, in appropriate cases.