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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

05 NOV 2009

Draft Insolvency Amendment Rules published by the Insolvency Service

The Insolvency Service has published the Draft Insolvency Amendment Rules. See here. The recent reform process leading up to this event has been discussed on this blog before (see here). The new materials include an interesting and very comprehensive "Stakeholder Commentary." This lengthy document is divided into "themes." These include:

  • The revised draft Legislative Reform (Insolvency)(Miscellaneous Provisions) Order 2009 (paragraph 3)
  • Advertising Rule changes (paragraph 4)
  • Standard contents for “gazetting” (paragraph 5)
  • Standard contents for advertising otherwise than in the Gazette (paragraph 6)
  • Meetings (paragraph 7)
  • Official receiver (paragraph 8)
  • Creditors’ and liquidation committees (paragraph 9)
  • Disclaimer procedure (paragraph 10)
  • Court procedure and practice (paragraph 11)
  • Applications for private examination under sections 236, 251N and 366 (paragraph 12)
  • Public examination under sections 133(1) and 290(1) (paragraph 13)
  • Filing in court: rationalisation and removal of unnecessary filings (paragraph 14)
  • Affidavits (paragraph 15)
  • Ex parte (paragraph 16)
  • Leave of the court (paragraph 17)
  • Deponents (paragraph 18)
  • Parts 1 and 5 (CVAs and IVAs): miscellaneous modernisation and harmonisation (paragraph 19)
  • Draft Legislative Reform (Insolvency)(Miscellaneous Provisions) Order 2009 (paragraph 20)
  • Remuneration, expenses and reporting (paragraph 21)
  • Provision of “receipts and payments” account on resignation of office holder (paragraph 22)
  • Creditor and debtor bankruptcy petitions (paragraph 23)
  • Block transfer orders (paragraph 24)
  • Verification of a statement of affairs (paragraph 25)
  • Claims and distributions (paragraph 26)
  • Limited disclosure (paragraph 27)
  • Amendments to Part 4 Chapter 22 (leave to act as director etc. of company with prohibited name) (paragraph 28)
  • Part 3 (Administrative Receivership): miscellaneous amendments (paragraph 29)
  • Amendments relating to the EC Regulation on Insolvency Proceedings (paragraph 30)
  • Electronic delivery (paragraph 31)
  • Service of court documents (paragraph 32)
  • Prescribed forms (paragraph 33)
  • Authentication (paragraph 34)
  • Annulment Changes (paragraph 35)
  • Insolvency Registers (paragraph 36)
  • Victims of Violence (paragraph 37)
  • Inland Revenue (paragraph 38)
  • Deceased office-holders (paragraph 39)
  • Definitions (paragraph 40)
  • Schedule 2 (paragraph 41)
  • Schedule 5 (paragraph (42)"
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