Moves to open up insolvency methods called debt relief orders will mean
individuals could begin bankruptcy proceedings for themselves or others online.
There are concerns individuals may use the scheme against people they have a
Mike Gerrard, insolvency partner at
believes people may ‘get sloshed’ and think it is a ‘good idea to start
bankruptcy proceedings’. ‘One of my concerns is that you don’t have to go to
court, you could actually make someone like your old headmaster bankrupt. No-one
will know until they receive a letter,’ he said.
Although the policy will reduce the burden on courts and costs the debtor
£100 compared to the current £500 to file proceedings, there is a fear that
personal insolvency will be taken too lightly.
Service is currently working on the plans, expected to be introduced in
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children