In this webinar we will discuss the questions this poses: how will this impact on the conduct of insolvency cases and the pre-appointment advice given to the director/shareholders of companies? How can creditor engagement be maintained if they no longer have any prospect of a financial return? What impact will this have on future lending decisions.
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The original EU Regulations came into force in May 2002, with the aim of simplifying the formalities governing reciprocal recognition and enforcement of insolvency proceedings across Europe’s member states. An in-built statutory review of the Regulations started in 2012, and the recast EU Regulations were finalised in May 2015, coming into force in the UK in June 2017.More Information
The RPBs recently issued two new SIPs on key areas of insolvency practice, which came into effect on 1 January 2018.More Information
This year's challenge is the new General Data Protection Regulation coming into force on 25 May 2018. Anyone who handles data must comply with data processing legislation, and the new Regulations tighten up existing procedure and introduce more significant penalties for data breaches.More Information
The Insolvency (England and Wales) Rules 2016 hailed the most significant changes to insolvency law and practice in over 30 years, recasting the Insolvency Rules 1986 in their entirety and introducing new procedures for obtaining creditor decisions.More Information
Obtaining valid approval for IP fees is a fundamental concern for practitioners. These processes were subject to substantial revision under the Insolvency (England & Wales) Rules 2016 and both ICAEW and IPA have issued guidance pieces on their monitoring approach to fee issues. SIP 9 compliance remains perennially high on the regulatory radar.More Information
Increasingly the members’ voluntary liquidation process is under the spotlight of HMRC, keen to ensure that an MVL is a tax-fair method of returning capital to members, but equally keen to ensure that it is not a vehicle of tax avoidance.More Information
Concluding our Technical Short series for 2018, we turn our attention to property in the context of protected trust deeds. There are various options for dealing with a debtor’s property in a PTD but all of them should have the same result - the best outcome for creditors.More Information
The new Insolvency (Scotland) Rules 2018 come into force on 6 April 2019.More Information
Insolvency practitioners have a number of legal and regulatory responsibilities in relation to a company's books and records and the obligations they are under require the balancing of their duties to investigate and retain records for specified periods versus the privacy rights of the individuals whose data may be contained in those records.More Information
An insolvency practitioner’s statutory reporting obligations are supported by the regulatory requirements contained in SIP2. We must consider the information acquired in the course of administering the estate and decide whether further information is required, irrespective of any shortage of funds.More Information
The Corporate Insolvency and Governance Act 2020 (“the Act”) comes into effect on 26 June 2020, being the UK Government’s response to the impact of coronavirus on business.More Information
Statements of Insolvency Practice, or the SIPs as we better know them, are required practice in our role as insolvency practitioners, and set out the principles we should apply when approaching a particular area: fees, the handling of client funds and IVAs to name but a few. While there is no statutory onus on us to comply, breaches of SIPs can form the basis of disciplinary action by your regulator.More Information