R3’s input helps shape the revised Practice Statement: Strengthening the UK restructuring framework.

22 January 2026

The revised Practice Statement for Schemes of Arrangement and Restructuring Plans is now in force, shaping how cases under Parts 26 and 26A are managed in the Business and Property Courts.

When the draft was published, R3 responded on behalf of the restructuring profession, drawing on practitioner experience to highlight where clarity, flexibility, and proportionality really matter in practice.

We are pleased to see that a number of our recommendations were reflected in the final version, including greater flexibility around timetabling, clearer expectations at convening hearings, and a more pragmatic approach to case management.

This short video explains why the Practice Statement matters and how constructive engagement between the profession and the courts helps ensure the UK remains a leading restructuring jurisdiction.

Watch for more information.