When the Insolvency (England and Wales) Rules 2016 (IR16) came into force on 6 April 2017 it was clear that significant amendments to the Practice Direction on Insolvency Proceedings were needed as it had been in force since 2014 and was based upon the Insolvency Rules 1986. A planned interim practice direction was never created, leaving in place an outdated practice direction that was inconsistent with the latest legal rules and practice for more than a year.
The IPD has been updated to reflect a number of significant developments, including the IR16 (as amended), the Recast EU Regulation on Insolvency Proceedings, the introduction of electronic filing and the Business and Property Courts and the re-designation of registrars in bank…
Read the full article at: https://www.out-law.com/en/articles/2018/may/new-practice-direction-insolvency-proceedings/
