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.

A clause in a settlement agreement, which provided that an indemnity would cease on a company's insolvency, infringed the anti-deprivation principle as it deprived the insolvent company's administrators of an asset for distribution to creditors. A purported "contracting out" of the insolvency legislation was contrary to public policy and the clause was void (Folgate London Market Ltd v Chaucer Insurance Plc www.bailii.org/ew/cases/EWCA/Civ/2011/328.html).