A special administration regime for Payment and Electronic Money Institutions (PIs and EMIs) was established in The Payment and Electronic Money Institution Insolvency Regulations 2021 (the Regulations).

A special administration regime for Payment and Electronic Money Institutions (PIs and EMIs) was established in The Payment and Electronic Money Institution Insolvency Regulations 2021 (the Regulations).

Insolvency practitioners (‘IP’s) tasked with dealing with an often failing business for the purposes of protecting creditors’ interests face a number of issues. The Regulator has sought to provide clarity in two particular areas that IPs come across in their work by issuing notes (the ‘Notes’) on these issues (September 2015).

Trustee Appointments

Just before Christmas last year, the High Court handed down a judgment in a bankruptcy case which was contrary to a High Court decision in a previous pensions and bankruptcy case on essentially the same issues. It has left this area in some uncertainty for the time being and is the latest in a long history of developments in this area.

A little bit of history