In these difficult ecomomic times - Govt should do more to allow businesses in financial difficulty to be rescued and avoid Insolvency

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In these difficult ecomomic times - Govt should do more to allow businesses in financial difficulty to be rescued and avoid Insolvency

Additional Information

the Government should:

(1) immediately set up a clear representative group that meets on a forthnightly basis with the relevant minister comprising representatives from (1) R3, (2) Turnaround Management Association (UK), (3) Institute for Turnaround, (4) Senior Restructuring Officers from each of the Big 4 Lending Banks (5) Heads of Restructuring from the Big 4 accountants (6) representatives from the mid tier IP practices and (7) employee representation through unions to debate policy/issues and work towards implementing changes

(2) support ways in which new and different forms of finance can be made available to achieve rescues of distressed businesses

(3) consider legislative change to permit flexibility within company rescue procedures.

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