BusinessBusiness RecoveryInsolvency practitioners push for more training

Insolvency practitioners push for more training

Insolvency experts have said many company directors have inadequate training and professional bodies should be pushing to ensure they receive the right preparation to manage businesses properly.

Link: Company insolvencies surge

Recent figures from the Department of Trade & Industry show a 10% year-on-year increase in the number of companies going into insolvency proceedings. And although many businesses this year blamed their demise on September 11 knock-on effects, experts say the attacks only had a marginal influence. Bad management was still to blame for the most part, they said.

In an exclusive interview with Accountancy Age, David Buchler, president of R3, the association of business recovery professionals, said training was a ‘brilliant idea’, not only for bankrupts but for all business managers, adding professional bodies should actively drive training and government should encourage it. He said: ‘Professional bodies – the Institute of Directors, the CBI – really should be pushing very far’.

Buchler, non-executive vice-chairman at Tottenham Hotspur, also reiterated the need for football to be more ‘flexible’ over the controversial supercreditor rule which favours players’ contracts and ‘football creditors’ above all others.

‘In finding that flexibility I think football will be stronger for it,’ he said.

The full interview with David Buchler will appear shortly on the site.

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