The RISA Board has set up two working groups. The first group, headed by Hadley Chilton, is reviewing the issues facing IPs and lawyers, where there is an application or proposal to put a company into liquidation (both solvent and insolvent) but the company is struck off the register of companies. There are a number of issues that need to be addressed, not least if the registered agent has resigned and no up-to-date KYC documents can be obtained from the relevant parties.

The second group, headed by Roy Bailey, has met several times and has provided significant input into a formal restructuring report at the request of the judges’ group, which is reviewing Insolvency Act amendments. The RISA working group’s white paper was submitted earlier this year and covered a number of matters (including but not limited to, access to moratorium relief in the BVI).

We hope to be able to publish the finalized white papers from both groups later this year. Many thanks to everyone involved.

If you would like to be part of a working group or would be interested in starting a further working group to address other concerns in the industry, please contact Roy Bailey ([email protected]).