The UK association for restructuring, turnaround and insolvency professionals has welcomed the Insolvency Service’s new five-year strategy promising to crack down on abusive business practices and resolve insolvencies faster.
Chief executive of R3, Caroline Summers, said the group welcomed the focus on intervening earlier to help “people and businesses address financial difficulties,” as well as tackling misconduct and misuse of corporate structures.
The agency’s strategy outlined a change in how it will work in future, making sure it spots risk sooner, guides people with financial or business problems towards the right options for help, and makes the whole system…