The Insolvency Service issued Dear IP 78 earlier this week.
This Dear IP covers:
Changes to the block transfer process stemming from the introduction of the Insolvency (England & Wales) Rules 2016.
New rule 12.37 requires the applicant to “deliver a notice of the intended application to the Secretary of State on or before the date the application is made.”
The Insolvency Service has confirmed that IPs need to inform the Secretary of State via the IP Regulation Section mailbox (IPRegulation.email@example.com) on or before the date that the application for a block transfer is made to the Court. The draft order, schedules and any accompanying witness statements should be attached.The Sectary of State will no longer be issuing a letter stating that there is no objection to the transfer; instead practitioners will only receive correspondence if there is a regulatory matter which needs to be brought to the attention of the Court.
The Insolvency Service has said that it will make referrals to the IP's RPB if the Secretary of State is not informed of the intended application.
The new guidance published on GOV.UK on ‘Reporting misconduct by companies, directors and bankrupts to the Insolvency Service’.
As a result of the new guidance, the Insolvency Service's former publication ‘The Investigations Hotline, what it is and how to report misconduct’ has now been withdrawn.
The main changes to the guidance are:
The additional guidance issued in relation to dealing with PPI in the light of the Green v Wright decision earlier this year
A copy of the Dear IP is attached