www.iva.co.uk

Re Budget; Well, did anyone hear about stopping of advertising bankruptcy in the local papers? I must have missed it.

I too listened to the budget and heard no mention of anything to do with adverts ceasing or indeed anything commenting on insolvency at all. I suspect nothing will actually change and adverts will continue to be posted?? I am sure an expert will be round soon to give a firm answer on this.

I have just read the budget statement in full and I can find no mention of it, I suspect that if this is to be brought in it will be done in a more low key fashion.

Yer tiz: SUPPLEMENTARY REPORTS Enterprise: unlocking the UK's talent*

2.45 The insolvency legislation currently requires insolvency officers to advertise key insolvency events in a newspaper in each and every case. In order to remove unnecessary burdens on creditors of insolvent estates the Government proposes to change the law by the end of 2009 so that insolvency officers have discretion to decide whether or not to place an advertisement in the local press, having regard to the particular circumstances of the case. As virtually all advertisements currently placed appear in local newspapers, this change is likely to lead to a reduction in the perceived level of stigma associated with bankruptcy. Notices will continue to be published in the London, Edinburgh and Belfast Gazettes.

http://news.bbc.co.uk/1/shared/bsp/hi/pdfs/
12_03_08bud08_enterprise_524.pdf

Interesting thanks. So it looks like it will be some time. Also, without getting too technical I would have thought it dangerous to discontinue advertising in the London Gazette.

Ian

I would have thought the costs of the advert in the Gazette and the local rag be better placed in the pot for creditors!! Its seems common sense may prevail after all !

Ian

I read this that this refers to advertising for claims, payment of dividends, and annual meetings, rather than not advertising the making of bankruptcy orders. Is this therefore a big red herring? Personally I would be delighted not to have to advertise for the routine stuff. Any thoughts?