Red Tape to be Cut

23 Jan 14

The Government has announced (23 January 2014) its intention to introduce a number of measures intended to reduce the costs of insolvency procedures and benefit creditors by £30 million a year!

The measures, some of which will require changes to primary legislation, will include:

Allowing insolvency practitioners (IPs) to communicate with creditors electronically to an increased extent

Reducing the requirement for IPs to obtain Court Orders for certain actions

Reducing the record keeping requirements

Simplifying the process for reporting director misconduct

Allowing the IP to rely on the insolvent’s records when paying small claims thereby reducing the need for creditors to complete claims forms

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Services List

  • Restructuring
  • Refinancing
  • Administrations
  • Company voluntary arrangements
  • Creditors voluntary liquidation
  • Members voluntary liquidation
  • Receivership
  • Fraud and forensic investigations
  • Litigation support
  • Financial restructuring
  • Individual voluntary arrangements
  • Bankruptcy advice
  • Informal arrangements