UPDATE: COVID'19 Guidance Masters' Courts Bankruptcy And Companies Key Changes

• Published date: 15 March 2021
• Subject Matter: Insolvency/Bankruptcy/Re-structuring, Financial Restructuring, Insolvency/Bankruptcy
• Law Firm: Cleaver Fulton Rankin
• Author: Ms Maria McNally

On 29 January 2021 the Bankruptcy Court issued updated guidance on court business in light of current restrictions. A summary is set out below:

Arrangements for Reactivating Creditors' bankruptcy and winding up petitions adjourned from March 2020

Where a debtor or company wishes to submit to a bankruptcy or winding up order, the petition may be listed for a remote hearing if the Court is provided with the following:

• A fully completed and sworn statement of affairs;
• A written undertaking signed by the individual/ director(s) to co-operate with the Official Receiver (including remotely); and
• Full contact details to include an email address.

Parties wishing to reactivate a petition on a consent basis must collaboratively complete and lodge the relevant court form with all of the above attached. If the Court is satisfied as to the information provided it will then allocate a date and time for a remote hearing of the petition.

Creditors' petitions as new business

The restriction on the presentation of new creditors' petitions continues and is unlikely to be removed in the short term due to unprecedented challenges...