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The Department of Business Innovation and Skills has published a new consultation entitled “Reform of the process to apply for Bankruptcy and Compulsory Winding Up”.
A legally-binding regulatory regime for bailiffs will be introduced following a spring consultation on proposals announced today by the government.
Part 36 has always included provision for pre-action part 36 offers. Parties are able to make an offer to settle in advance of the issue of proceedings, which, if in due course proceedings are commenced and the matter proceeds to trial, has the same benefits for an offeror as a part 36 offer made after the proceedings had started.
Two consultations are currently taking place which will result in legislation being implemented that will change the way in which litigation is conducted in the future.
For the last 25 years it seems that the insolvency profession has misunderstood the nature of the statutory test for insolvency.