THE BIG FOUR and insolvency trade body R3 have joined forces in their fight against proposed insolvency reforms.
A letter was sent by the consortium to insolvency minister Edward Davey requesting a meeting to discuss proposed changes which they feel outweigh benefits and reduce creditor returns.
The dispute is over the introduction of a complaints body which will deal primarily with insolvency practitioner (IP) fees.
R3 president Frances Coulson (pictured) said: “Under the new proposals, insolvency practitioner fees can be agreed by the majority of creditors but then challenged at the end by a minority creditor or angry director.
“The cost of making a complaint is free to the complainant, and if the complaint is not upheld it will be paid for out of the insolvent estate.”
The restaurant chain Bar Soba is planning expansion after a £3m Business Growth Fund (BGF) investment
Paul Boyle is appointed as the president of the Chartered Institute of Internal Auditors
More than 5,000 restaurant companies are at risk of insolvency as Brexit raises costs
Three new partners have been appointed at top ten firm BDO