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

03 MAY 2012

The Third Parties (Rights against Insurers) Act 2010

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."

 

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