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LATEST NEWS & EVENTS Corporate insolvencies 'to rise'  The number of firms entering into insolvency is to rise, according to one organisation. R3 suggested that while there was a decline in such failures during the first quarter of this year, there will be a spike soon. The organisation - which operates on a non-profit basis and is also known as the Association of Business Recovery Professionals - claimed that there is likely to be a surge in insolvencies in the five or six quarters following the recession. This is because many of the companies that suffered during the tough economic times will find it hard to borrow due to restricted lending conditions. While many of them may see 'green shoots' they will be unable to fund expansion, it suggested. Also, when the recession ends and assets rise in value, creditors are encouraged to move ahead with aggressive debt collection, R3 noted. The trade body went on to point out that business failures can have a domino effect, as more than a quarter of insolvencies are triggered by the collapse of another firm. Rick Munro, head of corporate recovery and insolvency at Lamport Bassitt, said: "Those businesses facing these difficulties would be well advised to seek advice from a local insolvency specialist sooner rather than later when the chances of survival are better." 
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