National Print Database partner Steve Mepham praised the DTI for restricting the use of administrative receivers, where a single secured creditor has effective control.

The DTI also introduced routes into administration without court orders for floating charge holders, companies and their directors.

ICSM debt recovery manager Andy Allies said: We must wait and see if our worst fears are realised in terms of the new procedures simplifying the process of contrived liquidations.

Mepham did not think that the removal of the preferential right of the Inland Revenue and Customs and Excise to recover unpaid taxes ahead of unsecured creditors would have a major impact.