R3's guide to the new 'Breathing Space' scheme for people in debt, which comes into effect on 4 May 2021... 

A round-up of everything R3's Press, Policy, and Public Affairs team had on their plates in February... 

The Government's consultation proposing to raise monetary limits on the criteria for obtaining a Debt Relief Order are welcome, but barriers to accessing the debt solution remain. Read a summary of our response to the consultation here...

R3's Press, Policy, and Public Affairs team round up the key events from January in the world of restructuring and insolvency... 

A review of the big news stories in insolvency and restructuring over the past year, from R3's Press, Policy, and Public Affairs team... 

“Dealing with money worries – a guide to your options” is a new resource from R3, and sets out the statutory amd non-statutory options for dealing with debt, for anyone worried about their financial situation.

The draft legislation for the breathing space scheme has been published - this post sets out how it may look in practice, and R3's support for the measure to help people in debt find an appropriate solution... 

A closer look at the results of R3’s member survey on COVID-19, which found that the majority of respondents expect a spike in personal insolvency numbers towards the end of this year, and the start of 2021...

The second full month of the lockdown saw the Corporate Insolvency and Governance Bill introduced to Parliament, the first monthly publication of the corporate and personal insolvency statistics, and continued media interest in the profession, its processes and how it has responded to the pandemic.

On May 15^th, for the first time, the Insolvency Service (IS) released monthly figures for corporate and personal insolvencies (NB: corporate: England & Wales, Scotland; personal: England & Wales). The IS said that it was publishing on a monthly (rather than quarterly, as previously) basis “to provide more up to date information on the numbers of companies and individuals who are unable to pay debts and enter a formal insolvency procedure as the coronavirus (COVID 19) pandemic continues”.