The Consent Protocol attached to the Technical Committee's email of 3 April, which was kindly produced by Mark Phillips QC, William Willson and Stephen Robins at South Square, has now been amended to reflect feedback from the IP community and the updated version is set out below.
The Consent Protocol, is intended to provide a starting point for insolvency practitioners and their advisers to adapt as necessary, where the approach is appropriate in the particular circumstances.
As also noted in the email of 3 April, rescue administration is not going to be appropriate in all cases. It could, however, provide a solution in some cases and so we would encourage members to consider this flexible and well-tested tool.
The current version of the Technical Committee's Rescue Administration: Saving Livelihoods breifing note on mobilising administration to stabilise, protect, and, if necessary, restructure companies is set out below. Members will be informed of any revisions to it.
The Technical Committee aims to keep members informed of relevant developments through its programme of technical bulletins and special updates, including any legislative reforms which might be introduced when Parliament resumes.