ICAS response to a review of the Corporate Insolvency Framework

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The ICAS response to the Insolvency Service consultation on reform to the corporate insolvency framework issues a note of caution over the potential impact on SME businesses.

Published:
7 July 2016

ICAS response to a review of the Corporate Insolvency Framework

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In May the UK Insolvency Service issued a consultation ‘A Review of the Corporate Insolvency framework’ which proposed some radical reforms to the UK restructuring regime. The UK Government proposals looked at four broad areas for reform to improve the efficiency of the rescue and restructuring tools available to companies in the UK.

In responding to the consultation, ICAS has issued a cautious welcome to the proposals, although has highlighted that many of the proposals could have a detrimental effect on the availability and cost of finance to SME businesses. Further discussion with the UK banks and other lenders is required to fully understand the potential implications.

Topics

  • Consultations and responses
  • Insolvency

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