The new Insolvency Rules (England & Wales) 2016 were introduced this month bringing the most significant changes in insolvency legislation for many years. There are substantial procedural changes within the insolvency process which both modernise and streamline how the insolvency sector works and these aim to improve the experiences of both creditors and insolvency practitioners. An introduction of modern terminology will be easier to use and the new rules will make a wider use of emails, websites and reduce the number of physical creditor meetings.
As an organisation we are updating all of our internal systems to reflect the many compliance changes to be incorporated. Our team of staff have or are undergoing various training events regarding the new rules and our own internal systems in order to meet the new demands placed upon the insolvency profession.
If you feel you require any help or guidance regarding the above feel free to call one of our experienced practitioners. Please contact us.