Background
The UKs place as a leading centre for corporate restructuring is under threat. Singapore and the EU are becoming increasingly competitive. Although the UK is ranked 7th in the world by the World Bank for ease of doing business, it is 14th for resolving insolvency, behind Puerto Rico, Slovenia, Belgium, Canada, and Iceland.
Another driver for change is the perception of injustice arising from some recent high profile corporate failures, such as Monarch, BHS, and Carillion. The governments view is that, not only do we need some new insolvency and pre-insolvency tools, but more legislation is needed to improve corporate governance.
The proposals …
Read the full article at: https://www.accountancyage.com/insolvency-and-corporate-governance/