BusinessBusiness RecoveryEnterprise Bill to go ahead

Enterprise Bill to go ahead

The government's flagship Enterprise Bill is expected to go ahead this month, ignoring Land Rover boss Bob Dover's demands for changes to insolvency litigation and despite the fact that some of its principles remain unclear.

Industry sources believe the bill will enter parliament early this month despite the fact that many new suggestions have come forth in just the last few months.

They said Dover’s proposals – thought to be designed to make it more difficult for insolvency practitioners to ‘hold large manufacturers to ransom’ over sole suppliers – have no chance of being heeded by the Department of Trade and Industry.

Land Rover said Dover had not spoken to the DTI.

But some IPs believe the bill will be ‘half-baked’ as some principles in it remain unclear. They said it seemed the government was rushing the bill through, reacting to criticisms on the delay of this ‘flagship’ bill.

Tony Supperstone, head of the business recovery division at BDO Stoy Hayward told Accountancy Age: ‘There are still a lot of uncertainties, especially surrounding the administration position. They all need to be clarified.

Many find it difficult to believe the government has listened to insolvency experts about the proposed bill as it includes controversial measures which most IPs believe are unfavourable to the rescue culture.

Nick Hood, partner at Begbies Traynor, said: ‘We are concerned that, in the interests of encouraging entrepreneurship, the government may have tipped the balance too far against other businesses who will lose out when companies fail.’

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

3d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

3d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor