Back to listing

23/08/2012

R3 Vice President comments on the Insolvency Service's 'Red Tape Challenge'

Liz Bingham, R3 Vice President, comments:

“We see this as a great chance to work with the Insolvency Service to create an even more effective insolvency regime, and we will be seizing the opportunity with both hands. The UK’s insolvency system is one of the best in the world but any stakeholder who has ever been a part of it, be they an insolvency practitioner, a creditor, or a debtor, will see that there is much more that can be done to facilitate a more streamlined and efficient system.

“We know that the director’s disqualification process is a priority for our members and we are already in conversation with the Insolvency Service about this. We also know that business rescue and creating a personal insolvency system that supports individuals, but also delivers the best returns to creditors is a key issue. We will be using the window of opportunity created by the Red Tape Challenge to suggest ways to improve the business rescue culture and create a personal and corporate insolvency regime that delivers the best possible outcome for debtors and creditors.”

-Ends-

For further information please contact:

Antoinette Huka, Communications Officer
T : 020 7566 4217 m: 07825 679 462 e: antoinette.huka@r3.org.uk

Notes to editors:

  • R3 is the trade body for Insolvency Professionals, and is made up of 97% of the UK’s Insolvency Practitioners from all over the UK.
  • R3 comments on a wide variety of personal and corporate insolvency issues. Please contact the press office, or see www.r3.org.uk for further information.
  • R3 promotes best practice for professionals working with financially troubled individuals and businesses; all R3 members are regulated by one of nine recognised professional bodies.
  • R3 stands for ‘Rescue, Recovery, and Renewal’ and is also known as the Association of Business Recovery Professionals.
  •  

R3 Press Office

Notes to editors:

  • R3 is the trade body for Insolvency Professionals and represents the UK’s Insolvency Practitioners.

  • R3 comments on a wide variety of personal and corporate insolvency issues. Contact the press office, or see www.r3.org.uk for further information.

  • R3 promotes best practice for professionals working with financially troubled individuals and businesses; all R3 members are regulated by recognised professional bodies
     
  • R3 stands for 'Rescue, Recovery, and Renewal' and is also known as the Association of Business Recovery Professionals.