Reform on insolvency rules
28th June 2012
Changes due to be made to modernise the current insolvency rules have been delayed according to the Insolvency Service, who act as regulators of the insolvency profession in the UK.
The reform will completely replace the existing 1986 rules and is now not likely to be published until 2013. Originally it had been suggested the new rules would be made public in the first half of 2012.
The Insolvency Service is now working to produce a full draft of the rules and is expected to invite feedback on its structure, content and detail.