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Pre-action letters and Statutory Demands (also known as Stat Ds) are useful tools for chasing longstanding and undisputed debts. But how do they differ? Firstly, the names of the participants involved. Whoever issues the Statutory Demand is an ‘applicant,’ but the sender of pre-action letter is a ‘claimant’. Likewise, the recipient of Stat D is…

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The number of women entering insolvency procedures jumped from 30% to 54.3% between 2000 and 2018, according to new figures released by the Insolvency Service. Last year, women in England and Wales were involved in 65% of Debt Relief Orders (DROs); 54% of Individual Voluntary Arrangements (IVAs); and 38% of Bankruptcies. The figures reveal that…

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Insolvency and Restructuring Firm of the Year

London-based magazine Finance Monthly, which is distributed to more than 100,000 readers across the globe, recently shortlisted Insolvency & Law (I&L) in the category of British ‘Insolvency and Restructuring firm of the year, as part of the  eighth annual Finance Monthly Global Awards. To celebrate the nomination, below, I&L director Peter Murray shares his thoughts…

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Garry Hacker, an insolvency practitioner who stole over £200,000 from clients and insolvency estates and put the money into his accounts, has been sacked from veteran accountancy firm Chantrey Vellacott and had his licence removed. At a disciplinary tribunal hearing led by the Institute of Chartered Accountants in England and Wales (ICAEW), Hacker admitted transferring…

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