Home / Restructuring & Insolvency

Legal News

Insolvency Service opens consultation on the future of insolvency regulation

Copyright © 2025 LexisNexis

Published on: 21 December 2021

Published by LNB News

LNB News 21/12/2021

Document Information

Issue Date: 21 December 2021

Published Date: 21 December 2021

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Insolvency Service has opened a consultation on the future of insolvency regulation, seeking views from the insolvency profession and other interested parties on proposed changes to the way the insolvency profession is regulated including the creation of an independent regulator and the creation of a public register of Insolvency Practitioners and firms that offer insolvency services, and a compensation scheme. The consultation is set to close at 11:59pm on 24 March 2022.

Popular documents

Priority between loss reliefs in loss making companies

Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a

What is the difference between an appeal and a review?

What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Contributory negligence in personal injury claims

Contributory negligence in personal injury claimsContributory negligence is a partial defence which can lead to a discount in damages.Other defences may also be relevant. See Practice Notes: Did the claimant consent to the risk of injury? and Was the claimant involved in an illegal activity?If a