The UK government has opened a consultation on the Insolvency Rules, seeking views on whether the current framework remains clear, proportionate and fit for modern practice.
For David Menzies, director of practice at ICAS, the consultation raises important questions about procedure, creditor engagement, remuneration, digital processes and the scope of future reform.
The consultation forms part of the UK government’s second post-implementation review of the Insolvency (England and Wales) Rules 2016 (the England and Wales Rules) and the first post-implementation review of the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018.
Menzies describes…