This Thursday sees the introduction of the Insolvency (England & Wales) Rules 2016 - which represents a major overhaul aimed at modernising and updating present procedures which have been in force for some 30 years, since the Insolvency Rules 1986. 

This will enable the office-holder (e.g. the Administrator or Liquidator, depending on the process) to use streamlined procedures and communication systems which should simplify and speed up processes, and as a result save expenses which come from the insolvency estate.

Potentially a positive thing for business owners and creditors!