Our website is set to allow the use of cookies. For more information and to change settings click here. If you are happy with cookies please click "Continue" or simply continue browsing. Continue.

Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

12 JUN 2012

Recent Issues in Personal and Corporate Insolvency

Holly Doyle and Simon Passfield

Guildhall Chambers

1.       On 25 April 2012, the Office for National Statistics published its Preliminary Estimate for Q1 2012 showing a decrease in GDP of 0.2% and confirming that the UK economy has returned to recession, the first double-dip downturn since the 1970's. The announcement marked another year of wide ranging development in insolvency law and practice.

2.       On 23 February 2012, the Chancellor of the High Court issued a new Practice Direction on Insolvency Proceedings, replacing all previous Practice Notes and Practice Directions relating to insolvency proceedings. Of particular note is the enshrining of the practice developed by Registrars in relation to applications for the extension of an administration, which should normally be made not less than one month before the end of administration in the absence of special circumstances (para 10) and of the Practice Statement: The Fixing and Approval of Remuneration of Appointees (para 20), as well as the removal of the specialist rules and procedure applying to insolvency appeals and their replacement with the general provisions of the CPR (para 19).

To view the full text, please log in.

To receive a FREE 14 day online trial to Insolvency Law Online click here.

Bankruptcy and Personal Insolvency Reports

Bankruptcy and Personal Insolvency Reports

"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...

More Info from £166.00
Available in Insolvency Law Online
Individual Voluntary Arrangements

Individual Voluntary Arrangements

"This is the ultimate statement of where the law on IVAs is to be found in our great common law...

Available in Insolvency Law Online
Subscribe to our newsletters