The South African Restructuring and Insolvency Practitioners Association NPC (SARIPA) was originally formed in 1986, and its membership and sphere of influence have grown steadily. Its members are insolvency practitioners, business rescue practitioners, attorneys, chartered accountants, tax consultants, academics and individuals predominantly in the financial lending sector, who are involved in the liquidation, insolvency and restructuring industries.
In 2018 SARIPA attained accreditation as the national professional regulatory body for Insolvency Practitioners and Business Restructuring Professionals. SARIPA is committed to its code of ethics and improving levels of excellence and professionalism for the benefit of all its members and stakeholders.
SARIPA is also a member organisation of INSOL International, the global insolvency organisation with a membership of more than 44 international insolvency organisations with over 10,000 professionals participating as members in over 90 countries. INSOL has been involved in numerous projects in developing countries to assist in the establishment of internationally acceptable insolvency practices.
As at 31 December 2018, SARIPA is now the 5th largest member organisation of INSOL. We are proud to say that the current President of INSOL International, Mr Adam Harris, is a SARIPA member of long-standing. Our Chairperson, Dr Eric Levenstein, is also director of INSOL.
SARIPA Mission Statement
To create a transparent environment in which our members irrespective of race, creed or gender, can practice their profession in accordance with the constitution of the Republic of South Africa, so as to provide an effective, professional service to all stakeholders by skilled, independent practitioners with the highest integrity and being mindful of:
- community interests,
- the constitutional rights of individuals,
- and a sustainable economy.
Education & Professionalism
SARIPA is actively involved in education programmes together with a number of educational institutions. SARIPA also holds regular regional workshops and an annual national conference to keep members and stakeholders abreast of new case law and changing legislation.
With its commitment to the ongoing professional development of its members, SARIPA has been certified by the South African Qualifications Authority (SAQA) as a professional body with two registered professional designations, namely Insolvency Practitioner and Business Restructuring Professional.
Over the years SARIPA has worked hard at establishing channels of communication with various branches of government. SARIPA has been instrumental in giving input into policy guidelines and new legislation, as well as working to establish a framework for statutory regulation.
SARIPA welcomes regulations compelling all practitioners to belong to a statutorily regulated body, thereby giving the public at large confidence in the professionalism and good standing of practitioners who are ultimately appointed by the Master of the High Court.