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About This Document: Earlier this month the Insolvency Service launched a consultation entitled Reform of the Process to Apply for Bankruptcy and Compulsory Winding Up. It is a lengthy document, but in essence the proposals are to take 'undisputed' bankruptcy and winding up petitions away from the courts and have them dealt with online and without a hearing as an administrative process by an adjudicator who will be part of the Insolvency Service. That, it is claimed, will save costs and bring about efficiencies. Two major flaws of the proposal are first its failure to come to grips with what constitutes a dispute and second to assume that where there is no dispute a bankruptcy or winding up order should be made. The author's final objection is to the consultation itself. It is dishonest. It asks 39 questions. Nowhere is the question asked whether or not the proposed adjudication process is itself a good or bad thing.

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01/17/12

Categories: DocStore > Periodicals > Business & Economics
Tags: Credit Management, Jan 2012, A Modest Proposal?, Baister, Stephen, Commentary, Proposals, Insolvency, Bankruptcy, Criticism, 3100, Capital & debt management, 9175, Western Europe, United Kingdom--UK

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A Modest Proposal?

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