Insolvency (England and Wales) Rules 2016—first wave of forms published

First wave of new IR 2016 forms published

The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) remove the Insolvency Service’s obligation to prepare prescribed forms when they come into force on 6 April 2017.  In addition, due to the changes brought in to certain procedures by the IR 2016, many existing precedent documents, including Application Notices may be out of date from 6 April.

LexisNexis has been working to produce a full suite of new forms and precedents under IR 2016.

The new Rules 2016, SI 2016/1024 come into force on 6 April 2017. We look at the impact on forms and discuss the release of the first wave of new forms.

You might recall sometime in February we brought you news of a Committee formed for Lexis PSL to review draft precedents to replace old prescribed forms.  See: Insolvency (England and Wales) Rules 2016 forms committee named by Lexis Nexis. 

A full suite of over 200 forms will be published in waves from today and includes:

  • new Companies House forms
  • new Insolvency Service forms
  • new HMCTS forms
  • new forms adopted by the committee (the remaining forms taken from IR 1986, sch 4 and updated in light of IR 2016)

LexisPSL R&I has created a committee of the following leading insolvency professionals to establish standard form documents which are expected to be widely adopted across the market:

  • Chief Registrar Stephen Baister
  • Alison Curry, Head of Regulatory Standards & Support at the Insolvency Practitioners Association
  • David Leibowitz, Restructuring and Insolvency partner at Berwin Leighton Paisner
  • Frances Coulson, Head of Insolvency and Litigation at Moon Beever
  • Jeremy Goldring QC, Barrister at South Square
  • Mark Sands, Immediate Past President of the Insolvency Practitioners Association and partner at Baker Tilly Creditor Services LLP

Forms adopted by the committee (as well as the forms produced by Companies House, the Insolvency Service and HMCTS) will be available in Lexis Library through LexisSmart Forms in our ever-popular editable PDF format.

The most important forms will also be available in Lexis PSL R&I.  A Destination Table for all forms will shortly be released in Lexis PSL R&I so customers can easily see where the old form has changed and what new form replaces it.

Lexis PSL R&I is also updating all content to take account of the changes brought in under the new rules.

Not a subscriber? Find out more about how LexisPSL can help you and click here for a free trial of LexisPSL Restructuring and Insolvency.

LexisSmart Forms provide instant access to all the forms you need across all practice areas in editable PDF format. The PDF format works in Adobe Reader (which is free) and offers many benefits, including that they can be quickly and easily completed, edited and shared.

To find out more about our full range of editable PDF forms visit www.lexisnexis.co.uk/smartforms or call 0330 161 1234.

 

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