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Insolvency Rules April 2017

Insolvency Rules April 2017

On the 6th April 2017 the application to replace all existing insolvency rules in England and Wales will come into place. When they come into force, they will repeal and replace the Insolvency Rules 1986 and to sit alongside the Insolvency Act 1986 providing modernised procedural rules to be followed in the conduct of insolvency proceedings.

The department for business, energy and industrial strategy, in conjunction with the Insolvency Service, consider that the new rules will provide huge savings estimate between, £86.19m and £240.09m over a 10-year period. This estimation is predicated upon the fact that the new rules are designed to modernise, consolidate and simplify the legislation governing the conduct of insolvency proceedings.

Added: 16 Mar 2017 09:44

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The Timothy James Partnership

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Insolvency Practitioners Association
About Us

We are an independent firm of specialist Licensed Insolvency Practitioners located in Bromsgrove, Worcestershire.

At The Timothy James Partnership, we work very closely with local businesses and professionals, providing guidance on formal insolvency procedures and advice on restructuring businesses.

We recognise that at times, companies find themselves in difficult financial circumstances and our aim is to provide practical solutions in these situations.