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The Regulations came into effect from 30 April 2021 and impose requirements in relation to the disposal, hiring out or sale of a company’s property by an administrator of that company to a connected person. The requirements only apply in the first 8 weeks of administration, and where the disposal, hiring out or sale involves all or a substantial part of the company’s business or assets. This could involve one or more transactions. View
These Regulations extend the period within which liability is suspended under wrongful trading provisions in the Insolvency Act 1986 ; and extend the period within which certain temporary provisions in the Corporate Insolvency and Governance Act 2020 are to have effect. View
These regulations make a number of changes to The Insolvency (Amendment) (EU Exit) Regulations 2019, including a mendments to the Insolvency (Scotland) (Receivership and Winding up) Rules 2018. View
These regulations provide a number of amendments to various parts of insolvency law. View
Section 82 of the Coronavirus Act 2020 provides that a right of re-entry or forfeiture, under a relevant business tenancy, for non-payment of rent may not be enforced, by action or otherwise, during the relevant period. These Regulations provide that the relevant period is extended to 31 March 2021. View
These Regulations prolong the period within which the temporary provisions, which restrict the issuing of winding up petitions, in the Corporate Insolvency and Governance Act 2020 (c.12) , (and referred to for the purposes of CIGA as the “relevant period”), are to have effect. View
Wrongful Trading will once again be suspended from 25 November 2020 until 20 April 2021. View
On 6 April 2020, the Insolvency Act 1986 (Prescribed Part) (Amendment) Order 2020 came into force. It increased the maximum amount of the prescribed part from £600,000 to £800,000, however the increase will only apply where the floating charge affected was created on or after 6 April 2020. View
On 8 October 2020, the Government published its report on the findings and recommendations following a review to assess the impact of voluntary industry measures introduced in November 2015 to improve the transparency of pre-pack sales in administration. A number of regulations are to be introduced. View
The Regulations will come into force on 1 October 2020 and as a result a number of temporary provisions in the Corporate Insolvency and Governance Act 2020 will terminate. For example, f or a company to enter a moratorium (or for a moratorium to continue) after 30 September 2020 the monitor must be of the opinion that it is likely that a moratorium for the company would result in the rescue of the company as a going concern, rather than if it were not for any worsening of the financial position of the company for reasons relating to coronavirus. View
These Regulations implement Council Directive 2001/23/EC ("the Directive") on the approximation of the law relating to business transfers. They revoke the Transfer of Undertakings (Protection of Employment) Regulations 1981 ("the 1981 Regulations"). The provisions introduced by these regulations are similar to those included in the 1981 Regulations. They also include provisions taking advantage of certain policy options conferred by the Directive. View
These Regulations make provision in connection with the regulation of insolvency practitioners. These Regulations replace the Regulations listed in Schedule 1 subject to the transitional and saving provisions in regulation 4. Regulation 6 makes provision as regards the matters to be taken into account by a competent authority in determining whether an individual is a fit and proper person to hold an authorisation under section 393 of the Insolvency Act 1986. View
The Secretary of State, in exercise of the powers conferred on him by Rule 12.1 of the Insolvency Rules 1986 and sections 411 and 412 of, and paragraphs 27 of Schedule 8 and 30 of Schedule 9 to, the Insolvency Act 1986 and of all other powers enabling him in that behalf, hereby makes the following Regulations:-- UK Parliament SIs 1990-1999/1994/2501-2550/Insolvency Regulations 1994 (SI 1994/2507)/Part 1 General/1 Citation and commencement View
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