Creditor guides to office holder fees
In light of the changes introduced by the Insolvency (England and Wales) Rules 2016 R3 have produced updated Creditor Guides to fees for administrations, liquidations, bankruptcy and voluntary arrangements.
R3 Standard Conditions for IVAs
We have received a number of enquiries about R3’s Standard Conditions for IVAs following the introduction of the Insolvency (England and Wales) Rules 2016. Owing to unforeseen circumstances the revision of the Standard Conditions for IVAs, to take account of the changes introduced by the new Rules, will take longer than anticipated. Since IVA proposals are, in effect, statutory contracts and their interpretation is ultimately a matter of law, members drafting IVA proposals under the new Rules may wish to consider seeking legal advice on their content, particularly with regards to obtaining decisions of creditors.