Bankruptcy petitions—process and procedure
Bankruptcy petitions—process and procedure

The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:

  • Bankruptcy petitions—process and procedure
  • Coronavirus (COVID-19)
  • Brexit impact—(Insolvency (Amendment) (EU Exit) Regulations 2019, SI 2019/146)
  • Steps to be taken by the petitioning creditor before the hearing
  • Steps to be taken by the debtor before the hearing
  • Steps to be taken by any creditor (other than the petitioning creditor) before the hearing
  • Who may appear at the hearing?
  • Failure to attend the hearing
  • By the petitioning creditor
  • By the debtor
  • More...

Before the hearing of the creditors’ bankruptcy petition takes place, there are a number of steps that must be taken to comply with the procedural requirements set out in the Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) and Practice Direction on Insolvency Proceedings (PDIP), including those that may be taken by the debtor or any other creditor if they wish to formally engage in the creditors' bankruptcy petition process.

Coronavirus (COVID-19)

This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and processes as a result of the Coronavirus (COVID-19) pandemic, including the Temporary Insolvency Practice Direction 2020. For further information, see Practice Notes: Coronavirus (COVID-19)—Changes to the court process in insolvency proceedings and The Temporary Insolvency Practice Direction Supporting the Insolvency Practice Direction (October 2020). For related news, guidance and other resources to assist practitioners working on restructuring and insolvency matters, see: Coronavirus (COVID-19)—Restructuring & Insolvency—overview.

Brexit impact—(Insolvency (Amendment) (EU Exit) Regulations 2019, SI 2019/146)

As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. References to exit day in many Brexit SIs are to be read as reference to IP completion day (Implementation Period completion

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