Bankruptcy Lawyer Draper Utah

Bankruptcy Lawyer Draper Utah

Ascent Law LLC (801) 676-5506 Free Consultation

Personal Bankruptcy Lawyer Draper Utah

Are Insolvency Practitioners Necessary?

Insolvency practitioners are professionals who provide assistance to insolvent entities. Their role is to protect the public’s interests, exercise judgment, and consider reasonable third-party opinions. Many factors influence their decision-making, such as the nature of the work, the structure of the practice, and conflicts of interest. Nevertheless, their roles are regulated and their decision-making should be subject to effective information barriers.


The Government is considering new legislation to regulate insolvency practitioners. It wants to ensure that practitioners meet certain minimum standards of competence. However, the Government recognizes that sweeping reform of the insolvency industry will take time. It is working with existing regulators to design a new regulatory model, which will be consulted with relevant stakeholders. The proposed changes will be scrutinized to ensure that they work and improve the confidence of the public in the regulatory system.

Public interest

The Department of Trade and Industry (DTI) regulates the insolvency industry but rarely inquires into its activities. A Social Security Select Committee report recommended that the DTI establish a system to monitor insolvencies, but that is yet to be implemented. In addition, the Secretary of State for Trade and Industry doesn’t publicly list insolvencies that have been started more than 20 years ago. It says the information would cost too much.


Confidentiality of insolvency practitioners is a vital issue in the practice of insolvency. By law, practitioners must not disclose information about their clients without the client’s consent and must not use this information for their own or third-party profit. They must also act in a professional and courteous manner to avoid any conflicts of interest.


The fees for insolvency practitioners vary according to their level of experience, activity, and previous fee income. However, they generally range from PS1,000 to PS3,500 per year. These fees cover the costs incurred by the Insolvency Service for the services of insolvency practitioners.


The qualifications of insolvency practitioners vary significantly around the world. They can either be self-regulated or registered with state-sponsored regulatory bodies. There is also a great deal of variation in the way they are supervised and disciplined. More developed countries tend to have more regulatory bodies, while others have none at all. There has also been tension between public and private control in some jurisdictions.


When a business or individual goes into liquidation, it may be a good idea to seek the services of an experienced insolvency practitioner. The role of an insolvency practitioner is to make decisions on the behalf of creditors. Their goal is to maximize the assets of a company or individual and minimize the negative impact that the bad debt has on creditors. They also ensure that a client is treated fairly and equitable in the process.
If you have any questions, you can get a free consultation with Ascent Law LLC:

Ascent Law LLC:
8833 South Redwood RoadSuite C
West Jordan, UT 84088
(801) 676-5506

When you need a Divorce Lawyer, contact this law firm:

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States

Telephone: (801) 676-5506
Ascent Law LLC

4.9 stars – based on 67 reviews

Recent Posts

Real Estate Attorney

Probate Lawyer

Estate Planning Attorney

Child Custody Lawyer

Divorce Lawyer

Business Lawyer

Ascent Law LLC St. George Utah Office

Ascent Law LLC Ogden Utah Office

Directions from Orem Utah to Ascent Law LLC West Jordan Utah

Directions from Holladay Utah to Ascent Law LLC West Jordan Utah

Directions from Vivent Arena Salt Lake City Utah to Ascent Law LLC West Jordan Utah

Draper, Utah

From Wikipedia, the free encyclopedia

Jump to navigationJump to search

Draper, Utah
Draper Historic Park

Draper Historic Park
Location in Salt Lake County and the state of Utah.

Location in Salt Lake County and the state of Utah.
Coordinates: 40°30′53″N 111°52′23″WCoordinates40°30′53″N 111°52′23″W
Country United States
State Utah
Counties Salt LakeUtah
Settled 1849
Incorporated 1978[1]
Founded by Ebenezer Brown and his wife Phebe DRAPER Palmer Brown
Named for William Draper, Jr.

 • Mayor Troy K. Walker

 • Total 29.96 sq mi (77.61 km2)
 • Land 29.95 sq mi (77.57 km2)
 • Water 0.01 sq mi (0.04 km2)

4,505 ft (1,373 m)

 • Total 51,017
 • Density 1,700/sq mi (660/km2)
Time zone UTC−7 (Mountain (MST))
 • Summer (DST) UTC−6 (MDT)
ZIP code
Area code(s) 385, 801
FIPS code 49-20120
GNIS feature ID 1427473

Draper is a city in Salt Lake and Utah counties in the U.S. state of Utah, about 20 miles (32 km) south of Salt Lake City along the Wasatch Front. As of the 2020 census, the population is 51,017, up from 7,143 in 1990.[3]

Draper is part of two metropolitan areas; the Salt Lake County portion is in the Salt Lake City metropolitan area, while the Utah County portion is in the Provo-Orem metropolitan area.

The Utah State Prison is in Draper, near Point of the Mountain, alongside Interstate 15Gary Gilmore‘s execution occurred on 17 January 1977. The Utah Legislature voted to relocate the state prison to Draper in 2014 and in 2015 approved the Salt Lake City location the prison relocation commission recommended. The Draper Prison will close in 2022. Inmates will be moved to a new prison facility in Salt Lake City; the new prison is slated for completion in mid-2022.[4]

Draper has two UTA TRAX stations (Draper Town Center, 12300/12400 South and Kimball’s Lane 11800 South) as well as one on the border with Sandy (Crescent View 11400 South). A FrontRunner commuter rail station serves the city’s west side. The city has around 5 FLEX bus routes connecting neighboring communities and two bus routes to Lehi Frontrunner Station and River/Herriman, connecting at Draper Town Center and the Draper Frontrunner Stations.

The city is home of 1-800 Contacts and a large eBay campus.

No data matched by id...
No data matched by id...
No data matched by id...
No data matched by id...
No data matched by id...
No data matched by id...
No data matched by id...
No data matched by id...

Comments are closed.