The existing insolvency rules in the UK have been recast with the aim to “modernize and consolidate” the procedural framework for insolvency processes in the UK and promote efficiency. The Insolvency (England and Wales) Rules 2016 (the New Rules) came into force on April 6, 2017.
A key feature of the New Rules is a welcome overhaul of the provisions regarding communication with creditors, to allow for electronic communications instead of paper documents and physical meetings.
Previously, an officeholder could only communicate with a creditor by email where the creditor has given written consent. Under the New Rules, a creditor who communicated with the debtor by email prior to the insolvency proceedings commenced is…
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