Letter to UK Government regarding proposed new UK insolvency legislation

Alan Tilley, President, EACTP yesterday wrote to the UK Government’s Business Minister and Shadow Business Minister regarding a critical issue facing UK turnaround professionals.

Letter to UK Government regarding proposed new UK insolvency legislation

30 April, 2020

The letter was shared with EACTP members based in the UK. Whilst this is most relevant to UK members, EACTP is equally committed to approaching other European governments on similar matters. Please bring any issues you wish to be considered to the attention of Helen Lindop, Education Coordinator, EACTP: eactp@turnaround.org.

“Dear Minister

I wrote to you on April 8th expressing my organisation’s concern at the lack of a pre insolvency moratorium in the UK and the missed opportunity for companies to restructure under qualified professional supervision with a period of stay from creditor action. The European Association of Turnaround Professionals (EACTP) membership practicing in UK are pleased to see the positive actions by the Government to provide loans and other reliefs in this difficult period. We are also heartened by reports that proposed changes to the UK Insolvency Law which were put on hold in 2018 are soon to be passed into legislation. I would like to draw your attention to two issues that at the time, and as commented on by EACTP members in the consultation process, we believed detracted from best practice …” 

Read the full letter: EACTP membership new legislation letter 29.4.20

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