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LATEST NEWS & EVENTS Insolvency arrangements at centre of new government consultation  A new consultation aimed at bolstering the UK's resilience should investment firms fail in the future has been launched. Commercial secretary to the Treasury Lord Sassoon set out proposals and reiterated the importance of strengthening administration procedures, because of the core role they play in not just the international market but also the provision of liquidity. At the heart of the planned regime is the intention to supply administrators with "clarity and direction" so that firms can be wound up with as little cost and disruption as possible. It will also assist them in focusing on maximising creditor returns and client assets, and engagement with infrastructure organisations or authorities. Earlier this week, the Insolvency Service announced it had disqualified the director of a currency trading firm for 15 years, following an investigation. Three-times bankrupt Terence Kenneth Freeman set up GFX Capital Markets when already banned from acting as a company director. Posted by Gaby Hamerton 
Related Articles: 8/5/2012 - More companies fail as personal insolvencies fall 23/4/2012 - Landlords and insurers unite behind insolvency law reform 19/4/2012 - Enterprise Act 'does not need radical overhaul' 13/4/2012 - Retail insolvency rate up 15% as rent payments bite 28/3/2012 - Business insolvencies on the rise More Insolvency & Restructuring News |
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