News room

Government pre-pack review opportunity for improvement – R3

Responding to the Insolvency Service's announcement that the government is to undertake an assessment of the Graham reforms of pre-pack administrations, Duncan Swift, deputy vice president at insolvency and restructuring trade body R3, commented: “The Government’s review is expected and is a good opportunity to examine the… Read more

  1. 22/11/2017

    Airline insolvency review risks duplication of effort (Budget 2017)

    Commenting on the Chancellor’s Budget plan to review airline insolvency arrangements (Budget document, page 50, para 4.38), Adrian Hyde, president of insolvency and… Read more

  2. 02/11/2017

    R3's comments on the Bank of England’s interest rate decision

    Commenting on the Bank of England's Monetary Policy Committee’s interest rate decision, Mark Sands, chair of insolvency trade body R3’s Personal Finance… Read more

  3. 02/11/2017

    Over one-third of British adults with a common credit product would struggle to afford 1% interest rate rise – R3

    At least a third of British adults with common credit products – including credit cards, mortgages, and Personal Contract Purchase car loans – would find it… Read more

  4. 31/10/2017

    Reform needed as UK insolvency framework slips in World Bank rankings

    The UK government needs to kick-start its stalled corporate insolvency reforms in the wake of the UK insolvency framework falling from 13th to 14th in the World… Read more

  5. 27/10/2017

    Q3 2017 insolvency statistics - R3's comments

    Commenting on the Q3 2017 England & Wales insolvency statistics (published this morning by the Insolvency Service), Adrian Hyde, president of insolvency and… Read more

  6. 25/10/2017

    R3 comments on the Scottish Insolvency Statistics, Q2 2017-­18

    Commenting on the Scottish Insolvency Statistics, July to September 2017 (Q2 2017­18), Eileen Blackburn, chair of the technical committee of R3 in Scotland, the… Read more

  7. 24/10/2017

    Insolvency profession welcomes government breathing space plans

    Commenting on the government’s launch of a call for evidence on plans to introduce a ‘breathing space’ for indebted individuals, Adrian Hyde, president… Read more

  8. 24/10/2017

    Picture worsening for businesses across the UK as one-in-four reports sign of distress

    Fewer UK companies are reporting signs of growth, and more firms say they have recently experienced at least one sign of distress, according to new research by insolvency… Read more

  9. 20/10/2017

    FCA to carry out review into the debt management sector – R3 comment

    In response to the news that the Financial Conduct Authority is to undertake a review of the debt management sector and of debt management plans (DMPs), Mark Sands, chair… Read more

  10. 09/10/2017

    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… Read more

  11. 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

  12. 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

  13. 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

  14. 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

  15. 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

  16. 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

  17. 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

  18. 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

  19. 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

  20. 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

  21. 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

  22. 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

  23. 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

  24. 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

  25. 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

  26. 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

  27. 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

  28. 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

  29. 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

  30. 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

  31. 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

  32. 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

  33. 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

  34. 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

  35. 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

  36. 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

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    Head of Communications

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    Communications Officer

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