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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

04 OCT 2010

New Consultation from the Insolvency Service - Consultation on the withdrawal of the optional facility for liquidators in voluntary liquidations to bank with the Insolvency Services Account ("ISA")

The Insolvency Service (IS) have published a new consultation on the withdrawal of the optional facility for liquidators in voluntary liquidations to bank with the Insolvency Services Account (“ISA”). The substantive questions for consultation are:

  1. Does the optional facility for voluntary liquidators to use the ISA need to be retained? 
  2. Would removal of the facility result in extra costs and if so what would these costs be? 

The deadline for consultation is Friday 17th December 2010.

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