Important dates for new insolvency rules

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As part of the upcoming changes to the insolvency rules businesses and individuals currently considering Company Voluntary Liquidations (CVL), Individual Voluntary Arrangements (IVA) or Company Voluntary Arrangements (CVA) must commence their proceedings by a certain date or face the new insolvency regime.

For business undergoing a CVL the date by which they must send notices to creditors is 21st March 2017.

Meanwhile, businesses and individual’s undergoing either an IVA or CVA must call their meetings by 17th March 2017.

Any meeting called after these dates will be bound by the new rules, which come into force on 6th April 2017.

To give you a more detailed overview of the rules our experienced team have prepared a useful article.

Click here to visit our detailed overview of the new Insolvency Rules

If you are concerned about how these changes may affect your clients then it is important that you contact us immediately.