The latest COVID-19 contingency arrangements for the restructuring and insolvency profession.
Lord Wolfson, Parliamentary Under Secretary of State at the Ministry of Justice, has approved and signed a temporary Insolvency Practice Direction (TIPD) on behalf of the Lord Chancellor. The TIPD comes into force on 1 April 2021. View
The Insolvency Service are now reopening their offices and with immediate effect will be accepting requests for cheque payments. View
The guidance has been updated for those individuals who were furloughed using the Coronavirus Job Retention Scheme, then made redundant because their employer is now subject to a insolvency process. View
The Coronavirus Job Retention Scheme portal/website goes live from Monday 20 April 2020. HMRC are e xpecting millions of calls and to assist, HMRC have engaged 9,500 staff to deal with scheme queries. E mployers should go through the portal where possible and be patient. HMRC has asked members to defer calling them about insolvency cases until 4 May as the insolvency team won't be available to deal with insolvency queries on either new or existing cases during this period. View
Administrators are at liberty to adopt employment contracts of furloughed employees when they make payments to employees, or make an application for payments under the Coronavirus Job Retention Scheme; but not before then. View
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Amoungst other points, no bankruptcy order will be made on HMRC petitions currently listed for hearing. Instead, the judge will order the petition to be relisted after 12 weeks. View
*COVID-19 contingency arrangements* View
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*COVID-19 contingency arrangements* View
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Business and Property Courts of England and Wales *COVID-19 contingency arrangements* View
- R3 Standard Form COVID 19 CVA Proposal
- Bounce Back Loans: FAQs for the Insolvency Profession
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