31 January 2012

11 SB responds to consultation on proposed bankruptcy reforms

In November 2011 The Insolvency Service issued a "Consultation: Reform of the Process to Apply for Bankruptcy and Compulsory Winding Up". The proposed reforms build upon proposals to reform the debtor petition bankruptcy process by removing the court from the application stage where there is no dispute between the parties about the outcome.

The consultation, which ended on 31st January 2012, sought to canvas views on a list of specific questions. The consultation document can be accessed here.

Given the significance of the outlined reforms, we agreed it was essential to not only answer the specific questions, but to also include our views on the wider implications of the proposals and comment on some key features not explicitly addressed by the Consultation's questions. 

We felt it was important to respond to share our collective legal expertise and hands-on experience as a leading insolvency set of barristers in what may prove to be a reform with far reaching consequences.

To read our full response to the consultation, please click here.