Administration extensions

My blog last week confirmed that when carrying out future monitoring visits we will consider any unavoidable delays as a result of Covid 19 realistically and pragmatically.

There are a number of statutory deadlines where no serious consequences will flow from an IP failing to meet the deadline due to illness or lock down at the present time. But there are others where undoing the consequences of missing a statutory deadline might have more serious implications. Administrations that are coming up to their statutory deadline fall into that category.  While we might take a pragmatic approach to any missed extensions on a monitoring visit where they have arisen as a result of Covid 19, there will be practical issues flowing from any administrations which don’t get extended in time that you will need to deal with, and which will involve you in additional costs. I’d urge you all to look at the diaries for your administration cases to make sure you take steps to extend them (where appropriate) in good time.

We have been sharing some current practical issues with the Insolvency Service, R3, and the IPA and will continue to do so, feeding back any proposed solutions when we can.