Insights: Debt Recovery

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

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.

In a further attempt by the courts to minimise court time spent on low value matters, 6 County Courts will be piloting a paper determination Small Hearings process commencing on 1 June 2022.

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.

The Civil Procedure Rules (CPR) Practice Direction 55C was introduced in response to the Covid-19 pandemic temporarily modifying the possession process set out in Part 55 for an interim period.

On 22 March 2021, the government launched a consultation upon proposed inflationary increases to court fees.

After a very long wait for creditors during a difficult economic period, the restrictions to Winding Up actions, introduced in response to the Covid-19 pandemic, are set to be relaxed with effect from 1 October 2021.

Last year the Government introduced certain temporary insolvency measures to support and protect businesses from creditor enforcement where the debt relates to the coronavirus pandemic.