CCR Magazine

CSA Top Banner
You are here  :Home arrow News arrow City Link/new government redundancy and insolvency call for evidence – R3 comments
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
City Link/new government redundancy and insolvency call for evidence – R3 comments PDF Print E-mail
Monday, 23 March 2015

Responding to the parliamentary report on the City Link administration and the announcement by the Insolvency Service (23/3) that it has launched a call for evidence on redundancy consultations in insolvency, Phillip Sykes, vice-president of R3, the insolvency trade body, says:

“R3 recognises concerns raised in the Joint Committee’s report. We welcome steps to improve transparency and communication for creditors as these are important foundations for effective creditor engagement in the insolvency process.”
   
“The UK’s insolvency regime is one of the world’s most effective, but it should always be kept under review to ensure it continues to meet modern business and creditor needs. We agree with the Committee that any review of the statutory order of payments needs to be carried out carefully to avoid unintended consequences.”
   
“We also agree that the separate sets of rules on redundancy consultations and insolvency are looked at in tandem to remove areas of friction. The insolvency profession is often placed in a difficult position when it is required to balance the sometimes contradictory legal requirements of employees and creditors. The government understands the tensions that exist in this area and we shall work constructively with the government to resolve them. We welcome the ‘call for evidence’ on this topic announced by the government this morning.”

(Source - R3 Media Statement)
 

 
Enghouse Side Banner

CSA side

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

CSA

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197