Insolvency
Service - Bankrupts
About
the Insolvency Service
The
Insolvency Service operates under a statutory framework –
mainly the Insolvency Acts 1986 and 2000, the Company Directors
Disqualifications Act 1986 and the Employment Rights Act 1996. Their
staff are based at their network of thirty eight Official Receiver
offices throughout England and Wales; their Enforcement Directorate
and Headquarters in London, Birmingham, Manchester and Edinburgh;
their Banking Section in Birmingham; and their Redundancy Payments
offices in Edinburgh, Birmingham and Watford. As of 1st April 2006
Companies Investigation Branch of BERR transferred to The Service
and is based in offices in both London and Manchester.
The
Law in England and Wales relating to bankruptcy is different to
that in Scotland and Northern Ireland. The Scottish individual insolvency
(bankruptcy) law changed on 1 April 2008. Information on the changes
is available on the website of the Accountant in Bankruptcy and
can be accessed on the folowing link. http://www.aib.gov.uk/guidance/Legislation/legistlationpostapril08
What
The Insolvency Service Do:
- administer
and investigate the affairs of bankrupts, of companies and partnerships
wound up by the court, and establish why they became insolvent
- act
as trustee/liquidator where no private sector insolvency practitioner
is appointed
- act
as nominee and supervisor in fast-track individual voluntary arrangements
- take
forward reports of bankrupts’ and directors’ misconduct
- deal
with the disqualification of unfit directors in all corporate
failures
- deal
with bankruptcy restrictions orders and undertakings
- authorise
and regulate the insolvency profession
- assess
and pay statutory entitlement to redundancy payments when an employer
cannot or will not pay its employees
- provide
banking and investment services for bankruptcy and liquidation
estate funds
- advise
BERR ministers and other government departments and agencies on
insolvency, redundancy and related issues
- provide
information to the public on insolvency and redundancy matters
via our website, leaflets, Insolvency Enquiry Line and Redundancy
Payments Helpline
- conduct
confidential fact-finding investigations into companies where
it is in the public interest to do so. These enquiries are carried
out by Companies Investigation Branch
Contact
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