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TITLE: REFORM OF THE PROCESS TO APPLY FOR BANKRUPTCY AND COMPULSORY WINDING UP: A MODEST PROPOSAL FOR REFORM.
DATE: WEDNESDAY 11 JANUARY 2012.
TIMINGS: 18.00 to 19.30 (followed by light refreshments).
VENUE: KPMG LLP, 8 Salisbury Square, London, EC4Y 8BB.
Mr Edward Davey MP, Minister for Consumer Affairs at BIS, has recently announced the launch of a 12 week consultation regarding the reform of the application process for bankruptcy and company winding up. The consultation document can be accessed here.
The Insolvency Service note that, “The consultation sets out proposals that aim to provide the most appropriate and efficient route into bankruptcy and winding up, and to ensure that the Court’s focus is on dispute resolution.
It is proposed that uncontested applications, even where brought by a creditor, would be determined in a more streamlined way by an Adjudicator, making use of a new pre-action process. The proposals recognise the vital role the Court has to play where there is a dispute between the parties, but aims to encourage debtor and creditor to engage at an early stage wherever possible to resolve debt issues."
The proposed change may have a huge impact on the nature and function of the insolvency jurisdiction. The KPMG “Thought Leadership” event on 11 January 2012, which is open to all stakeholders, will thoroughly examine the proposals.
The panel, which will be chaired by John Tribe, will include, inter alia:
o Dr Stephen Baister, Chief Bankruptcy Registrar, Royal Courts of Justice
o Dr Hamish Anderson, Norton Rose LLP
o Mr Peter Tutton, Citizens’ Advice Bureau
o Mr David Standish, KPMG LLP
o Mr Stephen Hunt, Griffins Insolvency Practitioners
o Mr Nick Howard, Director of Policy, Insolvency Service (BIS).
The consultation closes on the 31st January 2012
Please email: firstname.lastname@example.org if you would like to attend
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