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Insolvency law in the frontline

This week’s peer panel in The Lawyer highlights some of the current issues facing the insolvency profession.  A key theme is the disappointing lack of UK legislative development.  The administration expenses regime is crying out for statutory intervention to restore administration as the tool of the rescue culture that it was designed to be.  UK insolvency professionals are adept at using constructively the tools they have, as evidenced by the increasingly productive use of CVAs and schemes of arrangement, but we could do so much more if the legislature was prepared to engage constructively and maintain the tools for which it is responsible.

 

 

Date: 12th July, 2012
Author: Chris Laughton

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