A new policy announcement, a Budget submission, a roundtable event and an All-Party Parliamentary Group report on insolvency regulation – as well as continued increased media interest in the profession and its work – made September a busy month for R3’s Press, Policy and Public Affairs Team…

Warnings of an ‘energy crisis’ have dominated media headlines recently, with surging wholesale energy prices leading to the failure of nearly ten energy providers in September, and others reporting signs of serious financial distress.

This blog post sets out R3’s response to the APPG’s report and recommendations – including those that could help to make a positive difference to the current framework – while also highlighting some of the areas where we feel the report doesn’t get it right.

The final three weeks before the start of the parliamentary summer recess were busy ones for R3’s Press, Policy and Public Affairs Team, with a range of consultations, parliamentary appearances and briefings to deliver and prepare for – as well as continuing to give the profession a voice on key issues in the media…

As lockdown restrictions lift and the UK gradually returns to normality, many businesses will soon face a new challenge – repaying the Government-backed COVID-19 business loans that have helped to keep them afloat in recent months.

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...

The Government's recent pre-pack reforms could help to improve confidence in pre-packs, but there are two key issues with the draft regulations which risk undermining this. A summary of our response to the reforms can be read here.

The Government’s recently-announced consultation, “Increasing the scope and powers of the Small Business Commissioner”, is seeking responses on how the powers of the Small Business Commissioner can be expanded in order to deal more effectively with late payment.

Wednesday 22nd July saw the Royal Assent of the Finance Bill 2019-21, which will mean that from 1st December 2020 HMRC will become a secondary preferential creditor in insolvencies, a move that R3, and the UK insolvency and restructuring profession, believe will damage the UK’s carefully cultivated business rescue culture...