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Insights: Insolvency practitioners

Changes to Fixed Recoverable Costs

What Are Fixed Recoverable Costs? Fixed Recoverable Costs (“FRC”) are the fixed amount of legal costs which the successful party…

Confirmed increases to official receiver deposits

The Insolvency Service announced on the 5th September that it would be increasing the Official Receiver's Deposit on all creditor instigated bankruptcy and compulsory liquidation proceedings.

Expiry of winding up restrictions

After a very long wait for creditors during a difficult economic period, the restrictions placed on Winding Up actions, introduced in response to the Covid-19 pandemic, have expired on 31 March 2022.

Corporate insolvencies update

With restrictions now eased we are perhaps beginning to see the cost and effect of the pandemic on businesses starting to emerge, with the total number of corporate insolvencies now back at levels similar to those we saw pre-pandemic.