I've spent a good deal of time over the last few days reading and reviewing the Insolvency Service's 'Consultation on Reforming the Regulatory Framework for Insolvency Practitioners' which has been produced following the OFT Market Study into Corporate Insolvency published last June.It's large document (c90 pages), so not an easy read but nevertheless vitally important for credit professionals. Indeed the press release that accompanied the launch highlights a principal objective of the consultation in considering ' the three main issues to address the problems associated with the weak position of unsecured creditors.'
When I'm out and about, our Members and those in the credit community frequently complain to me about the insolvency process and how they lose out. This then is our opportunity to influence the insolvency landscape of the future. If we ignore it, we do so at our peril, and to this end the ICM will shortly be issuing a survey that will enable anyone interested to give their opinion and comment on aspects of the paper that are relevant to them. Please take the time and trouble to allow us to take your thoughts and feedback into account when we produce our final response to Government.
Elsewhere I see that David Kern, Chief Economist at the British Chambers of Commerce has reacted to the recently published minutes of the Monetary Policy Committee http://bit.ly/h77WrS. He's absolutely right when he says '...the factors pushing up prices in the short-term are outside the MPC's control...' Raising interest rates now would be too soon and would damage the prospects for recovery.
Finally, I'm writing these words ahead of the ICM's Regional Roadshow at the National Motorcycle Museum in Birmingham which has the highest number of registrations yet for our Roadshow programme. To find out more about our Roadshows and when we're going to be near you visit: http://www.icm.org.uk/default.asp?edit_id=1286-56
