Published: 15 February 2017
New Insolvency Rules 2016
On 6 April 2017 the new Insolvency (England & Wales) Rules 2016 will come into force, making a fundamental change to the restructuring and insolvency landscape. The new rules are said to ‘reflect modern business practice and to make the insolvency process more efficient’ (Gov.uk).
The new Rules replace the 1986 Rules and the various amendments made in the 30 year period since then. From 6 April 2017, insolvency practitioners will be expected to hit the ground running and will need to have updated checklists, diaries, template letters and new forms.
Any belief that the new Rules only apply to cases commencing post 6 April are inaccurate – they apply to all cases.
So what does this really mean? Read our latest Insolvency update here.