On 19th March 2020 the Department for Education published Guidance for Schools, childcare providers, colleges and local authorities in England on maintaining educational provision.
This provides for schools to continue to provide care for a limited number of children – children who are vulnerable and children whose parents are critical to the COVID-19 response and cannot be safely cared for at home.
Parents whose work is critical to the COVID-19 response include those who work in health and social care and in other key sectors, as outlined in the guidance, including financial services.
R3’s view is that Insolvency Practitioners (‘IPs’) and key staff members working on appointments DO qualify for the key work provisions published on 19 March 2020 by the Department of Education under the guidance titled ‘Guidance for schools, childcare providers, colleges and local authorities in England on maintaining educational provision’.
R3 asked the Insolvency Service (‘IS’) whether IPs and staff members were critical in response to COVID-19.
The Insolvency Service has identified key operational staff, covering those in Redundancy Payments Service, Estate Accounts and Official Receiver Services as delivering essential public services, which include court appointed officials, such as Official Receivers and their deputies. Insolvency Practitioners ('IPs') and key staff members covering similar functions may also be classified as key workers.
Please note that the decision on whether an IP or staff member is expected to come into work or not is a matter for the employer and for guidance to be followed.
- R3 Standard Form COVID 19 CVA Proposal
- Bounce Back Loans: FAQs for the Insolvency Profession
- Creditor Guides
- Dealing with corporate financial distress
- Dealing with money worries – a guide to your options
- Insolvency Service
- Standard Conditions - IVA
- Standard IVA Protocol
- Further guidance notes
R3 members can provide advice on a range of business and personal finance issues. To find an R3 member who can help you, click below.