Legal News

New bankruptcy applications regime to come into force

Published on: 23 February 2016
Published by: LexisPSL
  • New bankruptcy applications regime to come into force
  • What are the main changes to be brought in by the new bankruptcy applications regime?
  • What secondary legislation has been passed?
  • Broadly, how will the new bankruptcy applications regime operate?
  • Transitional and saving provisions

Article summary

Restructuring & Insolvency analysis: The Enterprise and Regulatory Reform Act 2013 (ERRA 2013) received Royal Assent on 25 April 2013 and ERRA 2013, s 71 introduced a new bankruptcy applications regime to replace debtors’ bankruptcy petitions. On 22 February 2016, three statutory instruments were published providing for the coming into force of the new regime on 6 April 2016. Stephen Leslie, solicitor in the Lexis®PSL Restructuring & Insolvency team, summarises the new regime. or take a trial to read the full analysis.

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