The following Restructuring & Insolvency guidance note provides comprehensive and up to date legal information covering:
This year’s annual round-up reviews some of the most significant developments of 2017 and previews what is on the horizon for 2018. This includes the coming into force of The Insolvency (England and Wales) Rules 2016 and the Recast Regulation on Insolvency, looking forward to the replacement Practice Direction on Insolvency Proceedings, and the General Data Protection Regulation and its impact on the insolvency profession. Also included are updates on LexisNexis®’s content, including news of exciting developments from the past year and what is coming up in the next 12 months.
On 6 April 2017 the Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) came into force, representing the single largest change in insolvency law in 30 years by repealing the Insolvency Rules 1986, SI 1986/1925 (IR 1986).
The IR 2016, SI 2016/1024 brought in various changes to procedure across various insolvency processes. More than a simple re-numbering exercise, the IR 2016, SI 2016/1024 gave effect to a number of new policy and process changes, including:
removing creditors' meetings as the default of all decision-making (subject to some exceptions) and the creation of new decision-making processes
giving creditors the chance to opt-out of receiving communications from an insolvency practitioner in relation
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