The corporate insolvency rules in Scotland change on 6 April, with two new sets of rules replacing the current regime for companies. They do not apply to limited liability partnerships (LLPs).
The introduction of The Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 and The Insolvency (Scotland) (Receivership and Winding up) Rules 2018 (together the 2018 Rules) will bring about the biggest overhaul to insolvency law in Scotland since the introduction of the Insolvency (Scotland) Rules 1986 (the 1986 Rules) over 30 years ago.
The 2018 Rules largely intimate those brought in by the equivalent England and Wales legislation, the Insolvency (England and Wales) Rules 2016 (the England and Wales Rules).
The…
Read the full article at: https://www.out-law.com/en/articles/2019/april/new-scottish-insolvency-rules-to-take-effect-from-6-april/