Late Payment Compensation for IP’s Insolvency practitioners know about late payment compensation (LPC), but very few appreciate the potentially large sums that it could bring to creditors when a company enters insolvency. Little research appears to have been undertaken as to why the rate of IPs applying LPC has been so poor, especially as there are considerable powers available to assist LPC creditors. The key to these powers is utilising current legislation, namely The Late Payment of Commerc