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Cautious welcome from Creditors for new Insolvency Rules

The process of replacing the Insolvency Rules 1986 and 28 subsequent amendments has necessarily involved difficult balancing exercises between the interests of numerous stakeholders, but the general consensus among creditors is that The Insolvency (England and Wales) Rules 2016 (SI 2016/1024) (“IR 2016”) which came into force on 6 April 2017 are likely to significantly improve the insolvency process for most creditors.

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