New Insolvency Rules – moving with the times

On 6 April 2017, new insolvency rules will be introduced.  This will be the most significant change to insolvency rules since 1986. The new rules are set to streamline certain procedures and use modern technology and are designed to make insolvency procedures more efficient, minimise costs and therefore maximise the return to creditors.

Insolvency practitioners will correspond with creditors by email, conference calling and virtual meetings.  This will reduce the need for holding physical meetings and sending lengthy reports which are seldom read by creditors.

This means that if any of your clients wish to engage in an insolvency process they should now be able to do so from the comfort of their own desk and attend any meetings remotely. At Redman Nichols Butler, we are very happy to attend creditors’ meetings on your clients’ behalf at no charge.

We also have remote meeting facilities and we are happy to attend your offices, your client’s premises or meet remotely on a no cost and no obligation basis.

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