HSBC in insolvency rights row

Tony Kirkby, of banking giant HSBC Bank, said parties involved in a crisis would be faced with time and money constraints while creditors would lose guarantees of a proper administration.

He was speaking at a symposium by recovery professionals’ body R3 where opinions had been expressed that banks should lose all rights to veto Court-appointed receivers.

R3 called the conference to discuss the government’s company rescue mechanisms, which they believe have not been addressed in the 2000 Insolvency Act. Not all banks argued against – one said foregoing the right would ‘only cause minor inconvenience.’


Insolvency practitioners tighten security

Business Recovery – Stephen Gale
Insolvency has been much in the news of late. The debate has, however, been conducted mainly by politicians but the voice of insolvency professionals and others with first-hand knowledge has not been much heard.

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