Insolvency

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.

Standard Notes

DateDescription
09.09.2014Phoenix trading
This note looks in detail at the legality of phoenix trading and at the personal liability of directors to the creditors of an insolvent company. It also looks at new provisions contained in the Small Business Enterprise and Employment Bill, which is currently progressing through Parliament.
05.09.2014Pre-pack administration procedure
This note looks in detail at how pre-pack administrations work in practice under SIP 16, the 'pros and cons' of the procedure, and the recommendations of the Graham Review. Separate Library notes SN/HA/4937 and SN/HA/4915 provide detailed information on compulsory insolvency and general administration respectively.
21.07.2014Company Voluntary Arrangements
This note provides a detailed overview of the Company Voluntary Arrangement (CVA) procedure. It also considers Government proposals to restructure the use of a moratorium in CVAs and in Schemes of Arrangement. A separate Library note, entitled 'Company rescue procedures', dated 9 May 2012, provides detailed information on other insolvency procedures designed to avoid liquidation.
21.01.2014What will happen to the bankrupt's home?
The purpose of this note is to provide a general outline of what will happen to the bankrupt's home under current insolvency legislation. However, it should be emphasised that anyone made bankrupt (or considering bankruptcy) should seek proper legal advice based on a full appraisal of the facts of their case.
18.12.2013Discharge from bankruptcy
The purpose of this note is to provide an overview of the discharge from bankruptcy procedure. In the process, it also considers the effect of discharge; the circumstances which may cause automatic discharge to be postponed by the court; and when a Bankruptcy Restrictions Order may be imposed.

Research Papers

DateDescription
10.07.2014Small Business, Enterprise and Employment Bill
The Small Business, Enterprise and Employment Bill will receive its Second Reading in the House of Commons on 16 July 2014.
12.05.2014Deregulation Bill: Committee Stage Report
The Bill proposes a range of measures in line with the Government's aim to reduce regulatory burdens on businesses and public authorities.
30.01.2014Deregulation Bill
The Bill proposes a range of measures in line with the Government's aim to reduce burdens on businesses and public authorities.
03.10.2012Enterprise and Regulatory Reform Bill: Committee Stage Report
This is a report on the Public Bill Committee Stage of the Enterprise and Regulatory Reform Bill. It is designed to complement the Research Paper Enterprise and Regulatory Reform Bill (RP 12/33), which covers in more detail the background to the Bill
07.06.2012Enterprise and Regulatory Reform Bill
The Enterprise and Regulatory Reform Bill introduces reforms in a number of areas.

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 ...

Lords Library Notes

DateDescription
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.

Glossary

  • Research Papers (RP) - briefings produced by the House of Commons Library on Bills, topical issues and regular statistics
  • Standard Notes (SN) - shorter, topical briefings from the Commons Library
  • Early Day Motions (EDMs) - formal motions submitted by MPs in the House of Commons
  • POST Notes - short briefing notes produced by the Parliamentary Office of Science and Technology
  • Lords Library Notes (LLN) - papers compiled by the House of Lords Library on Bills and for debates in the Lords
  • Select Committee Reports - papers produced by all select committees of both Houses