Insolvency Practice Direction relating to the Corporate Insolvency and Governance Act 2020 | Three Stone

Deprecated: Creation of dynamic property WPEngineSecurityAuditor_Events::$events is deprecated in /www/threestone_450/public/wp-content/mu-plugins/wpengine-security-auditor.php on line 58

Deprecated: Creation of dynamic property WPEngineSecurityAuditor_Events::$tracked_options is deprecated in /www/threestone_450/public/wp-content/mu-plugins/wpengine-security-auditor.php on line 81

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the relevanssi domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /www/threestone_450/public/wp-includes/functions.php on line 6260

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the acf domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /www/threestone_450/public/wp-includes/functions.php on line 6260

Notice: Function is_preview was called incorrectly. Conditional query tags do not work before the query is run. Before then, they always return false. Please see Debugging in WordPress for more information. (This message was added in version 3.1.0.) in /www/threestone_450/public/wp-includes/functions.php on line 6260

Deprecated: Method SplObjectStorage::attach() is deprecated since 8.5, use method SplObjectStorage::offsetSet() instead in /www/threestone_450/public/wp-content/plugins/ithemes-security-pro/vendor-prod/pimple/pimple/src/Pimple/Container.php on line 180

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the it-l10n-ithemes-security-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /www/threestone_450/public/wp-includes/functions.php on line 6260
Insolvency Practice Direction relating to the Corporate Insolvency and Governance Act 2020 | Three Stone

On 3rd July 2020 a new Insolvency Practice Direction (IPD) and an amendment to the Insolvency Proceedings Practice Direction 2018 (2018 PD) were approved by the Chancellor of the High Court (the IPD and amendments were drafted by Mr Justice Zacaroli, chair of the Insolvency Rules Committee with the Chief Insolvency and Companies Court Judge, Judge Briggs, Mr Justice Snowden and Mr Justice Trower).

The IPD and amendment to the 2018 PD primarily deal with a range of measures for insolvency practice under the Corporate Insolvency and Governance Act 2020 (CIGA). The measures include provisions for the process by which a winding up petition will remain private unless and until a judge has decided that inability to pay the debt on which the statutory demand is based is not as a result of the current pandemic, including a pre-trial review and preliminary hearing.