Shortly before the general election, the government introduced a new statutory insolvency regime for the FE sector, in the shape of the Technical and Further Education Act 2017. Although intended for implementation ahead of the 2018-19 academic year, the process could be delayed if the rules and regulations required to support it do not come into force in time.
The act offers a clear insolvency framework as an option for colleges facing financial difficulty. It also recognises the complex and delicate stakeholder balance between the interests of creditors and the duty to provide for and protect learners, as well as the need to reduce the taxpayer burden and prove value for money for ongoing investment.
The new insolvency regi…
Read the full article at: https://www.tes.com/news/school-news/breaking-views/insolvency-regime-leaves-big-questions-unanswered
