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UK restructuring and insolvency weekly update – 7 March 2024: ECCTA commencement, DRO fee removal, Companies House charge filings, key cases, IVA data, charity land changes, Rule in Gibbs.

Published on: 07 March 2024

Published by a LexisNexis Restructuring & Insolvency expert
Legal News
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Article summary

Restructuring & Insolvency weekly highlights—7 March 2024

In this issue:

  • Key R&I developments
  • Security review
  • Corporate insolvency processes
  • Personal insolvency
  • Property insolvency
  • Restructuring
  • The office-holder
  • Financial institutions
  • International restructuring and insolvency
  • Daily and weekly news alerts
  • Key dates for R&I professionals
  • New content

Key R&I developments

Spring Budget 2024—key Restructuring & Insolvency announcements

In the Spring Budget 2024, on 6 March 2024, the Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, confirmed the scrapping of the administration fee for debt relief orders (DROs). See: LNB News 06/03/2024 89.

Economic Crime and Corporate Transparency Act 2023 (Commencement No 2 and Transitional Provision) Regulations 2024 SI 2024/269

Certain provisions of the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023) come into force on 4 March 2024, 5 March 2024, and 26 April 2024. Of those commencing this week, matters of note for R&I lawyers: (i) refine the process for submitting a statutory declaration under section 89 of the Insolvency Act 1986 (IA 1986), (ii) revise Companies Act 2006 (CA 2006) provisions on administrative restoration of companies, (iii) introduce new CA 2006 measures concerning the integrity of the Companies Register, and (iv) make amendments...

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