The following Restructuring & Insolvency guidance note provides comprehensive and up to date legal information covering:
A review in insolvency proceedings is where the court revisits and reviews an order already made by it. The review process (in both corporate and personal insolvency) allows a decision to be reviewed either by the judge that made it (see Official Receiver v Bathurst) or by another judge (see Re W & A Glaser Limited).
The power to review orders is unique to the insolvency court (both the corporate insolvency court and the personal insolvency court). The power of the corporate insolvency court to review its own orders is contained in Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 12.59(1), which states that the corporate insolvency court can review, rescind or vary any order made by it in the exercise of that jurisdiction. The provision for the personal insolvency court is contained in section 375 of the Insolvency Act 1986 (IA 1986). This provision (similar to the corporate insolvency provision) states that the court may review, rescind or vary any order made by it in the exercise of that jurisdiction.
Reviews must not be seen as an alternative route to appeal a decision and the court will exercise its discretion to review an order carefully. It is also not to be used as a means to having a 'second bite of the cherry'.
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