Insolvency

This web page will automatically redirect in 5 seconds as the content is no longer being updated here.

New location

The page will automatically redirect to Insolvency Research Briefings produced by the Commons Library, Lords Library and POST

Content published before December 2016

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.

Commons Briefing Papers

DateDescription
04.10.2016Regulation of Insolvency Practitioners (IPs)
This Commons briefing paper provides an outline of the current regulation of insolvency practitioners (IPs). It also provides information on how a complaint can be made against an authorised IP.
12.05.2016Employment rights and insolvency
This briefing describes the options available to employees when owed money by an insolvent employer or one who refuses to pay statutory redundancy pay.
12.04.2016Company administration
This note provides an outline of the main characteristics and objectives of the administration process (including pre-pack administration) and the steps involved in order to put a company into administration. It also highlights why, in certain circumstances, administration can be an important company rescue insolvency procedure.
06.04.2016Individual Voluntary Arrangements (IVAs)
This Commons briefing paper provides an overview of Individual Voluntary Arrangements (IVAs), including information on: who is eligible to start an IVA; the IVA process; and the advantages and disadvantages of an IVA. This Paper applies only to England, Wales and Northern Ireland. Scotland has its own law on personal insolvency, including the option of a Protected Trust Deed (instead of an IVA).
04.04.2016Bankruptcy
This Commons briefing paper provides a brief outline of bankruptcy procedures in England and Wales.
04.02.2016Phoenix trading
This Library briefing paper looks in detail at the legality of phoenix trading and at the personal liability of directors to the creditors of an insolvent company. In addition to the Insolvency Act 1986 (as amended) and the Enterprise Act 2002, this note looks at new provisions contained in the Small Business Enterprise and Employment Act 2015, which received Royal Assent on 26 March 2015.
21.01.2016Pre-pack administrations
This briefing paper, written by the Commons Library, will explain in detail at how pre-pack administrations work in practice under revised SIP 16; the 'pros and cons' of the procedure; the recommendations of the Graham Review; and provides a summary of the measures introduced by the Small Business Enterprise and Employment Act 2015. This briefing paper applies to England and Wales, and Scotland.
04.01.2016Debt Relief Orders
Debt Relief Orders (DROs) were introduced under the Tribunals, Courts and Enforcement Act 2007 (TCEA 2007) and came into force on 6 April 2009.This briefing paper outlines the background to the introduction of Debt Relief Orders and the main features of the new orders with particular emphasis on the eligibility criteria.
10.12.2015Company Voluntary Arrangements
This briefing paper provides a detailed overview of the Company Voluntary Arrangement (CVA) procedure.
07.12.2015Can an undischarged bankrupt open a bank account?
This briefing paper considers how a bankruptcy order will affect an existing bank account and the basis on which an undischarged bankrupt may be able to open and operate a new current account.

Lords Library Notes

DateDescription
28.11.2014Small Business, Enterprise and Employment Bill (HL Bill 57 of session 2014-15)
This Library Note provides background reading ahead of the Bill's second reading in the House of Lords on 2 December 2014.
03.07.2014Deregulation Bill (HL Bill 33 of 2014-15)
The Deregulation Bill is a wide-ranging bill that is intended to remove or reduce regulatory burdens on businesses, civil society, individuals, public sector bodies and the taxpayer across a number of policy areas including: general and specific areas of business, companies and insolvency, the use of land, housing, transport, communications, the environment, education and training, entertainment, public authorities and the administration of justice.
09.11.2012Enterprise 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.

Select Committee Reports

DateDescription
10.11.2009Regulatory Reform Committee.
Regulatory Reform Select Committee report [Commons]
14.07.2009The Insolvency Service.
Government response. Department for Business, Innovation and Skills; Business and Enterprise Select Committee report [Commons]
07.07.2009Regulatory Reform Committee.
Regulatory Reform Select Committee report [Commons]
21.04.2009The Insolvency Service.
Business and Enterprise Select Committee report [Commons]
20.01.2009Regulatory Reform Committee.
Regulatory Reform Select Committee report [Commons]

Early Day Motions

DateDescription
01.11.2011BANKRUPTCY 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 ...
17.11.2010CROWN 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 ...
17.11.2010CROWN 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 ...
13.01.2010INSOLVENCY 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 ...
15.10.2009INSOLVENCY 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 ...

Glossary

  • Commons Briefing Papers (CBP) Papers providing in-depth and impartial analysis on every major piece of primary legislation and on other topics of public and parliamentary concern. Regular statistics papers are also published.
  • Early Day Motions (EDMs) - formal motions submitted by MPs in the House of Commons
  • POSTnotes (POST PN) - proactive four-page policy briefings from the Parliamentary Office of Science and Technology based on reviews of the research literature, interviews with stakeholders and peer review, commissioned by the POST Board
  • Lords Library Notes (LLN) - authored publications by the research section of the House of Lords Library that provide analysis of Bills, subjects for debate in the House and other issues of interest to Members.
  • Select Committee Reports - papers produced by all select committees of both Houses