On 31 March 2021, a new temporary insolvency practice direction (TIPD) was published, replacing and extending the previous TIPD which came into force on 1 October 2020.
The new TIPD comes into force today and will remain in force until 30 June 2021, unless amended or revoked by a further insolvency practice direction in the meantime.
Besides extending the previous TIPD, there are no substantive changes in the new TIPD. The procedures that are currently being followed for insolvency hearings and for the provisions in relation to administration appointments and statutory declarations remain the same. The purpose of the new TIPD remains is to assist court users during the continuing of the COVID-19 pandemic by avoiding the need for parties to attend court in person and to deal with some of the problems arising from the need for the courts to operate with limited staff and resources.
The new TIPD continues to supplement the Practice Direction – Insolvency Proceedings July 2018 and applies to all insolvency proceedings in the Business and Property Courts subject to variations outside London as directed by the relevant supervising judge. Company work will then be dealt with in a comparable way, and all adjourned hearings will be relisted within six weeks.
