The draft Legislative Reform (Insolvency) (Miscellaneous Provisions) Order 2009 has now been published detailing the proposed changes to the Insolvency Act 1986. The aim of the changes is to reduce costs and the administrative burden on users of the legislation and subsequently benefi t the creditors of insolvent companies and individuals through more fl exible procedures and increased dividends.  

The Government has also published a consultation paper, “Encouraging Company Rescue”, which proposes various reforms to the current insolvency regime with a view to supporting companies that are struggling in the global economic downturn. The deadline for responses is 7 September 2009.