- New Insolvency Rules laid before Parliament
- Original news
- Background to the new insolvency rules
- What changes are contained in the new insolvency rules?
- What are we doing at Lexis®PSL in relation to the new insolvency rules?
Restructuring & Insolvency analysis: The Insolvency (England and Wales) Rules 2016 have been laid before Parliament, and will come into force on 6 April 2017—subject to some transitional provisions—on which date the Insolvency Rules 1986 (IR 1986) and other secondary legislation that has subsequently amended them will be repealed. As the biggest change in insolvency law for 30 years, there will be relief that the new insolvency rules have finally been laid before Parliament, but also apprehension that insolvency professionals now have little under six months to digest the new insolvency rules, which contain a number of changes to procedures and processes, and be ready for their commencement.
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