Insolvency specialists welcome pledge to aid struggling firms

THE insolvency trade body, R3, has welcomed plans for a new government consultation on company rescue procedures.

R3’s North West chair Matt Dunham, a partner with Grant Thornton’s Liverpool office, said suggestions from the Insolvency Service contained some potentially useful measures.

He said a proposal to give absolute priority status to funding lent to companies in administration or a Company Voluntary Arrangement could save more firms.

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