New Practice Direction on Insolvency Proceedings in force on and from 25 April 2018

The eagerly awaited new Practice Direction on Insolvency Proceedings (PDIP 2018) has been published today, 25 April 2018, and will come into force with immediate effect.

The PDIP 2018 replaces all previous practice directions, practice statements and notes relating to insolvency proceedings (although it does not affect other practice directions in the CPR, the Practice Direction for Insolvency Express Trials, and for the avoidance of doubt, does not affect the Practice Direction for Directors Disqualification Proceedings).

Some of the key areas of drafting changes include:

• Appeals in personal and corporate insolvency proceedings.
• New provisions on the service of bankruptcy petitions.
• New references to the electronic working pilot scheme.
• New provisions on unfair prejudice petitions under the Companies Act 2006.

The PDIP 2018, like its predecessors, contains procedural requirements for various aspects of proceedings under the Insolvency Act 1986 and the Insolvency (England and Wales) Rules 2016. Failure to comply with its provisions will likely incur sanctions and therefore compliance is important for anyone involved in current or future insolvency applications.

Our specialist lawyers in our Dispute Resolution and Insolvency Department at Chadwick Lawrence would be delighted to discuss matters with you to allow them to gain a complete understanding as to how they can assist you.

If you would like to receive some further information, please do not hesitate to call 0113 225 8811 or email zoeallen@chadlaw.co.uk