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The Ministry of Justice have published a new piece of legislation which affects IPs. Here are the details from the MoJ:
"The Third Parties (Rights against Insurers) Act 2010 implements with some modifications to the proposals contained within the joint Law Commission and Scottish Law Commission report on this issue. When implemented the Act will replace legislation from 1930, streamlining and improving the procedures under which a person with a claim against an insolvent but insured wrongdoer can claim against the insurer. Most importantly the new Act will allow the claimant to proceed against the insurer directly without first establishing the liability of the insolvent person.
Implementation of the Act has been delayed by work on other priorities, but we have nonetheless been working to ensure a smooth commencement when a decision is taken to bring it into force. As part of this work we have provisionally concluded that some rules of court will be necessary; that the Act requires a small amendment to cover all forms of administration; and that the Act should be extended to the newly introduced Debt Relief Orders in Northern Ireland. In view of this it is unlikely that the Act will be commenced until 2013."
"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...