Podcast Location:
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Insolvency & Restructuring
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

  • FREE
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Course Aims:

This podcast is aimed at solicitors and barristers interested the preparation of insolvency proceedings. It aims to explore some of the more important areas affecting such practitioners in the re-drafted practice direction, specifically looking at validation orders and applications relating to officeholder remuneration.

After completing the course you will:
  • Know what a validation order is and the common circumstances in which one will be required;
  • Understand the legal test that must be satisfied to obtain a validation order;
  • Understand the guidance in the practice direction about obtaining a validation order;
  • Understand who an application for a validation order should be heard before;
  • Know who should be given notice of an application for a validation order;
  • Know how to obtain a retrospective validation order;
  • Be aware of the continuing ambiguity surrounding the relationship between the new insolvency practice direction and CPR Practice Direction 49B;
  • Understand what is meant by a office holder remuneration;
  • Know who can bring a remuneration application;
  • Understand the principles that underpin office holder remuneration and how the court will approach an application to fix, approve or challenge such remuneration.
General Interest Difficulty: 2 of 5
Legislative Updates
Practical Guide
Sources and References:
  • Practice Direction – Insolvency Proceedings;
  • Insolvency Act 1986 s 127;
  • Denney v John Hudson & Co Ltd [1992] BCLC 901;
  • Re Fairway Graphics Ltd [1991] BCLC 468;
  • CPR Practice Direction 49B.

A new practice direction on insolvency proceedings came into force on 23 February 2012. It contains procedural requirements for various aspects of proceedings under the Insolvency Act 1986 and the Insolvency Rules 1986 and replaces all previous practice directions for insolvency proceedings. This podcast discusses the major developments that practitioners need to know about.

Podcast added: 02/07/12

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