The government has launched a call for evidence seeking
stakeholders’ views on the Insolvency Rules that set out
the detailed requirements for company and individual
insolvency procedures in England and Wales.
Stakeholders are being asked to share their views on the
Insolvency Rules as they currently stand, including whether
they provide an appropriate framework for the UK’s
insolvency regime and whether any improvements could be
made.
The Insolvency Rules were last updated and implemented in
2017 and responses are welcome from insolvency
practitioners, the legal profession, company directors,
creditors, business and consumer groups and any other
interested parties.
Dean Beale, Chief Executive of the Insolvency Service,
said:
The Insolvency Rules are an integral part of the UK’s
insolvency framework, ensuring our insolvency processes
operate efficiently and effectively.
We welcome responses from all interested stakeholders on
how effective the Insolvency Rules have functioned since
their modernisation in 2017, and with suggestions as to
how they can be further improved or strengthened.
The Insolvency Rules 2017 set out the detailed procedure
for the conduct of company and individual insolvency
proceedings under the Insolvency Act 1986.
Stakeholders can
access the call for evidence here. Responses must be
received by 30 June 2021.
Notes to editors
The Insolvency (England and Wales) Rules 2016 set out the
detailed procedure for the conduct of the company and
individual insolvency proceedings contained in the
Insolvency Act 1986. Insolvency law is fully devolved as
regards Northern Ireland and part devolved for Scotland.
Each of those jurisdictions has its own rules in respect of
the devolved elements of the law.
The current Insolvency Rules represent a consolidated and
modernised version of the earlier Insolvency Rules 1986 and
the accompanying legislation that had developed in the
intervening period.
