{"id":61699,"date":"2015-09-18T09:51:42","date_gmt":"2015-09-18T09:51:42","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=1147846a1667d2ca6047858e043983ad"},"modified":"2015-09-18T09:51:42","modified_gmt":"2015-09-18T09:51:42","slug":"press-release-insolvency-changes-come-into-force","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=61699","title":{"rendered":"Press release: Insolvency changes come into force"},"content":{"rendered":"<div class=\"govspeak\">\n<h3 id=\"more-help-for-people-with-personal-problem-debt\">More help for people with personal problem debt<\/h3>\n<p>To make it easier for more people to access debt relief, <a href=\"https:\/\/www.gov.uk\/government\/news\/more-help-for-people-with-personal-problem-debt\">changes are being made to bankruptcy and Debt Relief Orders (DROs)<\/a>.<\/p>\n<h3 id=\"modernising-and-strengthening-insolvency-processes\">Modernising and strengthening insolvency processes<\/h3>\n<p>To improve public confidence in the insolvency profession and to modernise the insolvency process <a href=\"https:\/\/www.gov.uk\/government\/news\/modernising-and-strengthening-insolvency-processes\">a package of changes comes into force<\/a>.<\/p>\n<h3 id=\"strengthening-the-company-director-disqualification-process\">Strengthening the company director disqualification process<\/h3>\n<p>New measures are being introduced to provide a <a href=\"https:\/\/www.gov.uk\/government\/news\/strengthening-the-company-director-disqualification-process\">greater deterrent for company directors against acting improperly<\/a>. A compensation process is also being introduced to provide better financial redress for the loss creditors have suffered as the result of the conduct of disqualified  directors.<\/p>\n<h3 id=\"greater-transparency-for-creditors-about-the-cost-of-insolvency\">Greater transparency for creditors about the cost of Insolvency<\/h3>\n<p>Changes to the insolvency process ensure that creditors have an early indication of the costs of winding up a company that owes them money. In future where an insolvency practitioner wishes to work on a time and rate basis they must get the approval of creditors to an estimated fee and will need to seek further approval if they wish to vary this estimate.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>More help for people struggling with problem debt, a strengthened process to disqualify unfit company directors and changes to modernise and strengthen the insolvency regime are introduced on 1 October 2015.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/61699"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61699"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/61699\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}