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The Insolvency Department of the Ministry of Energy, Trade and Industry held a meeting yesterday, Wednesday, 19 June 2024, in Nicosia, with the Insolvency Consultants licensed by it, in order to present their Representation Committee.
The meeting was also attended by the Minister of Energy, Trade and Industry, Mr. George Papanastasiou, the Director General of the Ministry Mr. Marios Panagidis and representatives of both the Investigation and Disciplinary Committees of the Insolvency Department and of the Insolvency Committees of the Cyprus Bar Association (PBA) and the Cyprus Association of Certified Public Accountants (CCPA).
The Insolvency Consultants' Representation Committee consists of ten members and Mr Savvas Kotsonias (General Manager MDP Finance Connect/Insolvency Practitioner) and Ms Andri Antoniou (Solicitor/Licensed Insolvency Practitioner/Director CRI Group Ltd) have been appointed as its coordinators.
The Representation Committee, whose operation was put on a pilot basis until the end of this year, will have, inter alia, the following responsibilities. [*]To monitor and keep abreast of developments within the Insolvency Service. [*]To monitor and participate in the revision of the legal framework of the Department with recommendations for effective insolvency procedures. [*]To make recommendations for amendments to the Code of Conduct for Insolvency Practitioners. [*]To cooperate with the other two Insolvency Committees of the IDA and the ACA on all matters concerning them. [*]To identify education and training needs with a view to organising training seminars. [*]To take an active part in the Annual Conference of the Insolvency Section. [/LIST]
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