R3 Annual Review

A recent study indicates the UK insolvency regime:
  • Employs 12,700 people directly including 1,735 licensed insolvency practitioners, in 714 firms;
  • Helps to save 1,951,743 jobs annually in businesses that were suffering from solvency problems;
  • Is ranked eighth out of 127 countries for speed with which it deals with troubled businesses and ninth out of 175 countries for the amount it recovers for creditors. On these criteria the UK ranks above the US;
  • Plays a vital role in maintaining a business environment in which creditors are willing to lend, entrepreneurship is encouraged and the economy can flourish;
  • 67% of insolvency practitioners’ organisations are involved in restructuring or turnaround of companies;
  • According to World Bank data, insolvency practitioners recover 84 cents in the dollar for creditors at a cost of 6% of the value of the estate.

 

R3 Annual Report 2011 

R3 Annual Report 2010 

R3 Annual Report 2009 

Annual Review