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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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New Money Laundering Regulations

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26 June 2017. The new Regulations implement the Fourth EU Money Laundering Directive (“MLD4”) and entirely replace the Money Laundering Regulations 2007, and their provisions are markedly more comprehensive.

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Will I get my costs back now?

andrew-koffman

In February we shared this article which discussed recovering costs lost in legal disputes.

Lord Justice Jackson has now published his review of civil litigation costs.

A regime of “fixed recoverable costs” had been expected for all civil claims up to £250,000 in value, with a table setting out how much the winner could recover from the loser towards their costs. This would have had a major impact on the economics of resolving disputes in court.

In fact the recommendations are somewhat diluted and more flexible. He has proposed the following.

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Sickies – A Thing Of the Past?

If you’re a fan of the Peter Kay show, Car Share, you’ll have seen the perfect sickie in the making. John’s car share buddy, Kayleigh, calls into work. She feigns a stomach bug with great aplomb, while John looks on. It’s all part of her plan to lure John, who happens to be the assistant manager in the store where they both work, to the safari park for the day.

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