Insolvency & Restructuring News

New Statutory Instruments

12/10/16

The Compensation Orders (Disqualified Directors) Proceedings (England and Wales) Rules 2016 (2016 No 890) came into force on 1 October 2016. The Rules govern the procedure for applications by the Secretary of State for a compensation order against a disqualified director under s 15A Company Directors Disqualification Act 1986 (as amended by the Small Business, Enterprise and Employment Act 2015), as well as applications by a disqualified director to vary or revoke a compensation undertaking.

Click here to go to the Legislation.go.uk website.

The Insolvency (Amendment)(No 2) Rules 2016 (2016 No 903) came into force on 3 October 2016. The Rules alter the routes of appeal in corporate insolvency court decisions. A PDF of the Rules is attached.

The modernised Insolvency Rules are expected to come into force in April 2017, and we will update members further once the exact commencement date is confirmed.

The Insolvency (Amendment) (No.2) Rules 2016


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Recent Bulletins

A key service provided by the ILA is the provision of bulletins keeping it’s membership up-to-date with the latest developments in insolvency law.

Below are a selection of recent topics covered:

  • Sturgeon and Videology - interpreting the CBIR
  • C.J. & R.E. Eade LLP - Insolvent LLPs and recovery of property withdrawn by members
  • SCL Analytics - creditor opposition to administrators being appointed as liquidators