News room
UK insolvency framework is OECD’s best for zombie-busting
An OECD* report has concluded the UK’s insolvency and restructuring framework is the most effective in the organisation at preventing a build-up of productivity-sapping zombie companies, says UK insolvency and restructuring trade body R3. The report, ‘Insolvency regimes, zombie firms and capital reallocation’, says that… Read more
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26/09/2017
R3’s UK personal finances bulletin – September 2017
Two-fifths (41%) of British adults are at least fairly worried about their current level of debt, while a similar proportion (40%) say they sometimes or often struggle to… Read more
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04/09/2017
Government right to look into insolvency bonding – R3
Following the government’s publication of plans to revise bonding requirements for the insolvency profession, Adrian Hyde, President of… Read more
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22/08/2017
Government adopts ‘encouraging’ approach to post-Brexit cross-border insolvencies
Commenting on the government’s position paper on post-Brexit civil judicial co-operation – which states that the government will seek to “[reflect]… Read more
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28/07/2017
Sharp drops in underlying corporate and personal insolvencies in Q2 2017
Commenting on the Q2 2017 England & Wales insolvency statistics (published this morning by the Insolvency Service), Adrian Hyde, president of insolvency and… Read more
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26/07/2017
R3 comments on the Scottish Insolvency Statistics, Q1 2017-18
Commenting on the Scottish Insolvency Statistics, April to June 2017 (Q1 2017-18), Tim Cooper, Chair of R3 in Scotland, the insolvency trade body says: Personal… Read more
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13/07/2017
Women, coastal towns and North East have the highest rates of insolvency – R3 comments on 2016 statistics
The government’s latest insolvency statistics show that women continue to be more likely than men to enter an insolvency procedure and that insolvencies are most… Read more
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05/07/2017
New Single Financial Guidance Body a positive step forward for debt and money advice – R3
The creation of a Single Financial Guidance Body could help break down barriers stopping indebted individuals from receiving free and impartial advice, says insolvency… Read more
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27/06/2017
Concern about personal debt levels has fallen – R3 comment
Responding to the publication by the Office for National Statistics of preliminary results from its Wealth and Assets Survey, Andrew Tate of insolvency and restructuring… Read more
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21/06/2017
Much-needed business rescue reforms placed in doubt by Queen's Speech
The government must not neglect its business rescue reform plans as it prepares for Brexit, says insolvency and restructuring trade body, R3. Plans to introduce the… Read more
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05/06/2017
One-in-25 UK businesses unable to repay debts if interest rates go up
79,000 UK businesses (4%) say they would be unable to repay their debts if interests were to rise by a small amount – almost four times the 20,000 businesses in… Read more
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04/05/2017
Opportunity to improve personal finance education in schools, research shows – R3
Just one in ten (10%) British adults say they have received useful advice about personal finance through their school or college, a new survey of over 2,000 British… Read more
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28/04/2017
Q1 2017 insolvency statistics – R3 comments
Commenting on the Q1 2017 England & Wales insolvency statistics (published by the Insolvency Service), Adrian Hyde, President of insolvency and restructuring… Read more
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26/04/2017
R3 comments on the Scottish insolvency statistics for 2016-17
Commenting on the Scottish Insolvency Statistics for 2016-17, Tim Cooper, Chair of R3 in Scotland, the insolvency and restructuring trade body says: Personal… Read more
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21/04/2017
Adrian Hyde becomes new R3 President
Adrian Hyde, a Partner at CVR Global LLP with over 20 years of insolvency experience, is taking over as the new president of R3, the insolvency and restructuring trade… Read more
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31/03/2017
Importance of advisory work grows for insolvency profession as clients seek flexible arrangements
Rise in demand for advisory work, while insolvency skills are seen as a big advantage 40% of R3 members’ time now taken up by restructuring work. Restructuring… Read more
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28/03/2017
British adults’ personal finance pessimism on the rise since Brexit vote
The share of British adults concerned about their future financial health has been slowly but steadily increasing since June 2016, according to a new survey of over 2,000… Read more
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08/03/2017
Budget 2017: Loss Relief reforms & Business Rates could increase business failures – R3
Changes to corporation tax loss relief included in the Budget Red Book could damage UK business rescue, warns insolvency and restructuring trade body R3. The 2017 Budget… Read more
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08/03/2017
Budget 2017: Bankruptcy impact of new anti-avoidance tools needs considering by government – R3
With £820m of new anti-tax avoidance measures announced in today’s Budget, Andrew Tate, president of insolvency and restructuring trade body R3, says: … Read more
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02/03/2017
Court of Appeal decision brings clarity to IVAs on PPI refunds
A Court of Appeal decision handed down yesterday (1 March) has significant implications for thousands of personal insolvency procedures, says insolvency trade body R3. … Read more
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01/03/2017
1 in 4 British adults’ mental health affected by personal finance concerns – research
British adults say that their personal or household finances are the most likely factor, from a list of common causes of stress and anxiety, to have a negative impact on… Read more
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01/03/2017
R3 says new Standard Financial Statement is a ‘positive development’
Responding to the launch today (1st March) of the new Standard Financial Statement (SFS), Mark Sands, chair of R3’s personal insolvency committee, said: "The… Read more
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20/02/2017
R3 welcomes government’s pensions green paper
In response to the publication today of the government's green paper, Security and Sustainability in Defined Benefit Pension Schemes, Andrew Tate, president of UK… Read more
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16/02/2017
R3 welcomes government’s priority for debt advice in new single advice body
Commenting on the closure of the government consultation on the creation of a new single financial guidance body, Mark Sands, Chair of the Personal Insolvency Committee… Read more
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02/02/2017
New government guidance on late payment is 'welcome', says R3
In response to the publication of new guidance on late payment reporting for large businesses, published by the Department for Business, Energy, and Industrial Strategy,… Read more
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27/01/2017
2016 insolvencies up from 2015 – R3 comments
Commenting on the rising personal and corporate insolvency statistics in 2016, announced by the government this morning, Andrew Tate, president of insolvency and… Read more
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25/01/2017
R3 comments on Scottish insolvency statistics Q3 2016-17
Commenting on the Scottish Insolvency Statistics, Q3 2016-17, provided by the Accountant in Bankruptcy (AiB), Tim Cooper, Chair of insolvency trade body R3 in Scotland… Read more