Key Changes to the Bankruptcy and Companies Master’s Guidance

8 September 2021 
2 minutes
Debt Recovery

Prior to the summer, the Government announced that there would be a further extension under The Corporate Insolvency and Governance Act 2020 of existing restrictions on Statutory Demands and Winding-Up Petitions until 30 September 2021, where the debts relate to the pandemic. As that deadline looms, unlike England and Wales, in Northern Ireland the latest Bankruptcy & Companies Masters’ Court Guidance dated 3 September 2021 states that the ongoing restrictions in presenting Creditors’ Bankruptcy or Winding-up Petitions continues and is unlikely to be removed in the short term.

It is notable, however, that unlike previous guidance the latest provided sets out the procedures for the re-listing of Creditors’ Bankruptcy and Winding-Up Petitions adjourned between March and June 2020. The Bankruptcy Office has confirmed that these cases have been relisted, with the first date being 20 September 2021.

The latest guidance also refers to the moratorium contained within The Corporate Insolvency and Governance Act 2020 being extended. Subject to any further extension many Creditors who have been unable to issue petitions will be hoping that the ability to present Bankruptcy or Winding-Up Petitions in Northern Ireland as new business will naturally follow. You can read the full document here.

Creditors or Debtors who are unsure what their options are should seek expert advice in order to establish the best course of action. If you or your business is affected by any of these issues or require assistance please contact the Debt Recovery & Insolvency team at MKB Law to discuss your needs.

Contact David

David McAlinden
Director
dmca@mkblaw.co.uk
028 9099 3116

Contact Ruairi

Ruairi Maguire
Trainee Solicitor
rma@mkblaw.co.uk
028 9099 3145

Share Article

This article is for general guidance only and should not be regarded as a substitute for professional legal advice.

Experienced

Our experience and expertise allow our team to provide an unrivalled service to all clients.

Personal

Our personal understanding ensures our clients are at the forefront of our services.

Flexible

Our team provides clear legal guidance to complement your business structure.

Specialised

Our clients span all industries, from technology to agriculture and hospitality to renewables.

Or please call us on 028 9024 2450 or email info@mkblaw.co.uk

MKB Law is regulated by the Law Society of Northern Ireland. Content is copyright © MKB Law 2021. Terms & Conditions apply.