Insolvency
This page highlights some of the current parliamentary material available on insolvency, including bankruptcy and company liquidations. This includes select committee reports, briefing papers on current legislation and other subjects produced by the parliamentary research services, and the latest Early Day Motions put down by MPs.
Standard Notes
| Date | Description |
|---|---|
| 09.07.2013 | Individual Voluntary Arrangements (IVAs) |
| This note provides a detailed overview of IVAs, including information on: who is eligible to start an IVA; the IVA process; and the advantages and disadvantages of an IVA. A separate Library note, SN/HA/5055, provides detailed information on other 'Alternative procedures to bankruptcy'. | |
| 05.03.2013 | Crime and Courts Bill [HL] - reform of bailiffs |
| This note provides a summary of the problems identified with the current regulatory system for bailiffs and the background to bailiff reform. It also provides an outline of the Government's proposed reforms as set out in its consultation paper, 'Transforming bailiff action'. Importantly, it considers the new bailiff provisions embodied in 'enforcement by taking control of goods' in the Crime and Courts Bill, which seek to amend Part 3 and Schedule 12 of the TCEA 2007. | |
| 11.02.2013 | Company administration: the treatment of gift vouchers and cards |
| The purpose of this note is to explain the treatment of gift vouchers and cards when a company goes into administration. It outlines the statutory order of distribution to creditors of realised company assets. It also considers various options available to a purchaser of a gift or credit card to get a refund. Finally, it briefly explores whether there may be scope for a change in the law in this area. | |
| 28.09.2012 | Compulsory liquidation - corporate insolvency |
| This note outlines the compulsory liquidation process. Library notes SN/HA/4915 and SN/HA/4938 deal with administration and administrative receivership respectively. | |
| 24.09.2012 | Can an undischarged bankrupt open a bank account? |
| It is not illegal for an undischarged bankrupt to open a bank account; the difficulty may be in finding a bank that will enter into a business relationship with them. The purpose of this note is to provide a brief outline of the legal position. |
Research Papers
| Date | Description |
|---|---|
| 03.10.2012 | Enterprise and Regulatory Reform Bill: Committee Stage Report |
| This is a report on the Public Bill Committee Stage of the Enterprise and Regulatory Reform Bill. It is designed to complement the Research Paper Enterprise and Regulatory Reform Bill (RP 12/33), which covers in more detail the background to the Bill | |
| 07.06.2012 | Enterprise and Regulatory Reform Bill |
| The Enterprise and Regulatory Reform Bill introduces reforms in a number of areas. | |
| 01.03.2007 | The Tribunals, Courts and Enforcement Bill [HL] |
| 04.04.2002 | Enterprise Bill (Bill 115 of 2001-02) |
| Enterprise Bill ( Bill 115 of 2001/02). House of Commons Library Research Paper 02/21. |
Select Committee Reports
| Date | Description |
|---|---|
| 10.11.2009 | Regulatory Reform Committee. |
| Regulatory Reform Select Committee report [Commons] | |
| 14.07.2009 | The Insolvency Service. |
| Government response. Department for Business, Innovation and Skills; Business and Enterprise Select Committee report [Commons] | |
| 07.07.2009 | Regulatory Reform Committee. |
| Regulatory Reform Select Committee report [Commons] | |
| 21.04.2009 | The Insolvency Service. |
| Business and Enterprise Select Committee report [Commons] | |
| 20.01.2009 | Regulatory Reform Committee. |
| Regulatory Reform Select Committee report [Commons] |
Early Day Motions
| Date | Description |
|---|---|
| 01.11.2011 | BANKRUPTCY OF ALLIED STEEL AND WIRE |
| That this House notes the bankruptcy of Allied Steel Wire (ASW) in 2002 and the deficits of its company pension schemes; recognises the dedicated campaign of John Benson, Denis Kelleher ... | |
| 17.11.2010 | CROWN CURRENCY EXCHANGE (No. 2) |
| That this House notes with alarm the collapse of Crown Currency Exchange which was placed in administration in October 2010; expresses grave concern at the regulatory failures of the ... | |
| 17.11.2010 | CROWN CURRENCY EXCHANGE |
| That this House expresses sympathy for those who have been affected by Crown Currency Exchange being put into administration; regrets that many people have suffered losses and have ... | |
| 13.01.2010 | INSOLVENCY LAW |
| That this House believes that current UK insolvency laws and regulations fail adequately to protect unsecured creditors; and urges the Government to carry out a review of these laws ... | |
| 15.10.2009 | INSOLVENCY LAW |
| That this House believes that current UK insolvency laws and regulations fail to adequately protect unsecured creditors; and urges the Government to carry out a review of these laws ... |
Lords Library Notes
| Date | Description |
|---|---|
| 09.11.2012 | Enterprise and Regulatory Reform Bill (HL Bill 45 of 2012-13) |
| The Enterprise and Regulatory Reform Bill includes measures for changes to competition policy, to employment law, and for reducing regulation, as well as provisions on the Green Investment Bank, directors' remuneration, copyright and planning. This Library Note provides background reading in advance of the Bill's second reading in the House of Lords. |
