Practice Direction on Insolvency Proceedings
Practice Direction on Insolvency Proceedings

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

  • Practice Direction on Insolvency Proceedings
  • Brexit impact
  • PDIP latest version
  • Summary of the PDIP
  • Part One: general—PDIP, paras 1 to 7
  • Part two: company insolvency—PDIP, paras 8 to 10
  • Part three: personal insolvency—PDIP, paras 11 to 16
  • Part four: appeals—PDIP, paras 17–19
  • Part five: Financial Markets Regulations—PDIP, para 20
  • Part six: applications relating to the remuneration of office-holders—PDIP, para 21
  • more

Brexit impact

This Practice Note is impacted by the decision of the UK on 23 June 2016 to leave the European Union.

The Civil Jurisdiction and Judgments (Hague Convention on Choice of Court Agreements 2005) (EU Exit) Regulations 2018, SI 2018/1124 have an impact. This legislation is in force from exit day (as defined in section 20(1)–(5) of the European Union (Withdrawal) Act 2018), but not applicable if a withdrawal agreement is agreed.

For analysis, see Practice Notes: Hague Convention on Choice of Court Agreements—scope and application, Hague Convention on Choice of Court Agreements—jurisdiction, Hague Convention on Choice of Court Agreements—enforcement, and Hague Convention on Choice of Courts Agreements—tracker.

We will continue to monitor developments in this respect and throughout the negotiation period and beyond. In the meantime, for further reading on the impact of Brexit and related issues facing lawyers in this area, see Practice Note: Brexit—worst case scenarios for R&I lawyers.

For updates and details of other Brexit related developments and legislation, see Practice Note: Brexit SI tracker for R&I practitioners. For access to related documents and further reading on Brexit, see: Brexit toolkit.

PDIP latest version

The latest version of the Practice Direction on Insolvency Proceedings (PDIP) came into force on 4 July 2018—see PDIP, para 2.1, and News: Updated Insolvency Proceedings Practice Direction (LNB News 05/07/2018 98)