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There is an interesting story in Accountancy Age (AA) which is reporting that the Insolvency Service is to receive an IT upgrade. As a consequence the Official Receiver will be off line for a fairly substantial period. The Insolvency Service have provided extensive guidance on how users can cope with this brief and necessary closure. Pictured to the right is one of their current terminals (allegedly). This demonstrates just how necessary an upgrade is!!
The AA story notes:
"...From 2 July to 12 July the Insolvency Service will be updating its insolvency case management systems which it hopes will deliver "significant efficiency savings".The IT upgrade, called Enabling the Future, is estimated to cost £82m on completion. However, the body hopes the benefits will total more than £122m according to the Service's corporate plan for 2010 – 2011. During this period the Insolvency Service will be unable to receive formsonline; make payments on insolvent estates including dividend payments to creditors; no Debt Relief Orders can be submitted; and there could be reduced services available from the enquiries team due to the lack of access to documents.The London Gazette will also be affected. During this period no information regarding cases can be sent to the publication with the Gazette expected to include additional cases in its next issue."
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...