The Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) has now come into effect and makes certain changes to the Insolvency Act 1986. The idea being to improve the recoveries in insolvencies by providing greater flexibility for insolvency practitioners. Certain provisions have yet to take effect and there is a new concept of the “pre-pack pool” which is to be used for administrators’ sales to connected parties.
Full implementation to legislation will be achieved once secondary legislation is passed to bring the provisions of SBEEA 2015 into force parts of which are be incorporated into the new Insolvency Rules 2015 which are under discussion and to take effect next year.
I have 30 years' experience in corporate business recovery and insolvency. After qualifying as a…
