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Regulation & Compliance


New site for selling residential property

According to the Land Registry’s latest figures the average house price has fallen by 14% over the previous 12 months.  That’s a drop of £2,000 every month for the average house (currently valued at £153,046).  More than ever, insolvency professionals need to dispose of residential property quickly.  Leaving a residential property on the market for six months last year probably cost over £12,000 – almost certainly more than the total fees for a bankruptcy.

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Landlords push for greater disclosure on pre-packs

The country’s biggest retail landlords are pushing for greater clarity from administrators as the Insolvency Service admits that a third of pre-packaged administrations do not comply with regulations.

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R3 welcomes call to change Scottish insolvency laws

R3, the insolvency trade body, has welcomed the Calman Commission’s call to clean-up company insolvency law in Scotland by re-reserving all power on the issue to Westminster. And it strongly backed the Calman conclusions that changes should be made ‘with a minimum of delay.’

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MPs seek tighter control over pre-packs

A report by the Business and Enterprise Committee says that the entire “pre-packaged” administration rules are damaging confidence in Britain’s insolvency regime.

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Director disqualifications at record levels

1,252 company bosses were disqualified from acting as directors in the last financial year.

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R3 welcomes Budget proposals

R3 welcomed last week’s Budget announcement that the Government’s insolvency service will be consulting on company rescue procedures, and introducing a new report on pre-pack administrations.

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New advertising rules come into force

The Insolvency Service has given a guarded response to a leading insolvency’s practitioner’s proposal to further extend measures to cut advertising costs, without ruling out further changes over coming months.

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