How Might the First Review of the Insolvency (England and Wales) Rules 2016 Impact Mid-market Insolvencies?

April 2022
Region: Europe

On 5 April 2022, the UK government published the first review of the Insolvency (England and Wales) Rules 2016 (the Report).

In this alert, we have selected a few points from the Report that we think are of interest to practitioners. In particular, proposed changes to the Rule on timing and dating notices of appointment of administrators, the practice of swearing statutory declarations remotely, the impact of the decision in Manolete Partners Plc v Hayward and Barrett Holdings Ltd [2021] EWHC 1481 (Ch) on bringing insolvency proceedings, the engagement of secured creditors in approving fees and consent to the extension of an administrators’ appointment, and the monetary limit on winding-up petitions against companies.