As part of R3's Back to Business campaign, R3 has produced a resource to provide directors and business owners with a one-stop guide to the options open to them to deal with their corporate financial difficulties.
The guide, “Get Back to Business: A guide to dealing with corporate financial distress”, is available to download, and aims to make it easier for directors to understand their options and take action to stand the best chance of resolving the financial issues facing their firms.
- provides a one-stop guide to the main options – both informal and statutory – that are available to resolve corporate financial distress;
- explains how the insolvency and restructuring framework and profession can help to rescue viable businesses, save jobs, and repay creditors;
- helps to point directors to qualified and regulated sources of this advice; and
- sets out the duties and responsibilities of company directors and the actions that can be taken against directors where these aren’t met.