Reform of UK corporate insolvency and restructuring frameworks is desperately needed.
That is the message from accountants and industry insiders as the UK fails to improve its standing in the World Bank insolvency rankings.
While the UK stands still at 14th place, other countries have worked hard to improve their insolvency and restructuring frameworks. For example, the Netherlands has jumped from 11th in 2016 to 7th this year after a raft of reforms. The UK is behind Puerto Rico, Slovenia, and Iceland on the World Bank list.
The government announced a series of proposals for improvement in August, but these have not yet been i…
Read the full article at: https://www.accountancyage.com/why-is-the-uk-behind-on-insolvency-reform/