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Evolution, not revolution: a new consultation on the Insolvency Rules
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Ten years after their introduction, the UK government has launched a new consultation on the Insolvency (England and Wales) Rules 2016, as well as the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 (the Rules). As the second mandatory review of the Rules since they came into force, it presents an opportunity for reflection and targeted amendments. Rather than present a preferred package of reforms, the government seeks views on whether the Rules remain fit for purpose, whether there is scope to reduce administrative burdens, and how the procedural framework governing insolvency proceedings should respond to technological change. This In Practice piece highlights some of the key themes of the consultation that will be of significance to practitioners.
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