New insolvency provisions come into force

Aspects of the Deregulation Act 2015 and the Small Business, Enterprise and Employment Act 2015— both of which became law on 26th March 2015— took effect from 1st October 2015. In addition to this, new secondary legislation came into force. Insolvency Act 1986 (Amendment) Order 2015 and Insolvency Proceedings (Monetary Limits)(Amendment) Order 2015 took effect from 1st October 2015, with one notable change being the increase in the bankruptcy creditor petition level from £750 to £5,000.

Read more at: http://blogs.lexisnexis.co.uk/randi/new-insolvency-provisions-come-into-force-what-can-the-insolvency-profession-expect/

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