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UK insolvency practitioners will be required to provide upfront fee estimates from October

New rules requiring insolvency practitioners (IPs) to provide upfront estimates of what they will charge for their work will come into force in October, the UK government has announced. 06 Mar 2015

Plans to restrict use of conditional fee agreements in insolvency cases dropped 'for the time being'

Successful parties to insolvency cases will not be prevented from recovering conditional fee agreement (CFA) 'success' fees and legal insurance premiums from their opponents from April, after the UK government extended a temporary exemption from the general... 03 Mar 2015

Out-Law Guides

  • Insolvency procedures

    This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on Financial difficulty and insolvency . The following is a brief summary of insolvency...

  • Financial difficulty and insolvency: Other considerations

    This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on  Financial difficulty and insolvency . Other guides in this series address minimising the...

  • Wrongful trading FAQ

    This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on Financial difficulty and insolvency . Resigning will not, by itself, remove liability. In...

  • Personal liabilities for financial difficulties and insolvency

    This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on Financial difficulty and insolvency . In cases of insolvent liquidation, a director or shad...

  • Financial difficulty and insolvency: An introduction

    This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on Financial difficulty and insolvency . This guide looks at the legal position of directors...

UK restructuring laws already geared towards business rescue, says government

UK procedures allowing businesses to restructure in order to avoid insolvency already meet EU plans for a more 'rescue-orientated' approach to business failure and insolvency, according to a discussion document published by the Insolvency Service. 10 Feb 2015

Arcadia Group considering sale of BHS department store chain after 'several approaches'

Arcadia, the UK fashion retail group, is considering selling its BHS department store chain after receiving "several approaches" for the loss-making brand, according to press reports. 29 Jan 2015

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