New source of information for UK insolvency practitioners investigating the affairs of insolvent companies

The Information Sharing (Disclosure By The Registrar) Regulations 2024 came into force on 20 December 2024. The Regulations allow the Registrar of Companies (the Registrar) to share non-public information with insolvency practitioners (IPs) or the official receiver, for the purpose of assisting IPs in:

• Making, or determining whether to make, certain claims in the insolvency proceedings (including for fraudulent and wrongful trading, transactions at an undervalue, preferences or extortionate credit transactions).
• Tracing, realising or recovering property in the insolvency.

'Information' is not defined in the Regulations, leaving a wide scope for interpretation. This could include directors' residential addresses and correspondence with the Registrar relating to, for example, compulsory and voluntary strike off and the late filing of accounts. Disclosure of Information under the Regulations is subject to the usual restrictions applicable under UK GDPR. 

Key takeaways

IPs will welcome this new source of information to assist them in carrying out their duties to investigate the affairs of the company and realise assets in a cost effective and timely manner. Whilst it is unlikely to assist in every case, it should be considered and, where appropriate, utilised by IPs in the early stages of their appointment and before any costly applications are made to the court for information that Companies House may hold.

Find out more

To discuss the issues raised in this article in more detail, please contact a member of our Restructuring and Insolvency team.

The Information Sharing (Disclosure by the Registrar) Regulations 2024 

The Information Sharing (Disclosure by the Registrar) Regulations 2024 - Explanatory Memorandum