The insolvency trade body R3 have issued a useful guide to the
insolvency process for creditors. The guide can be found here.
A frequent criticism is that the insolvency process (and indeed
insolvency practitioners) does not do enough to engage with
creditors. Partly this will be because of creditor apathy (who
wants to throw good time after bad money?), but partly it is
because creditors do not see the insolvency process as being
structured to assist them.
It is therefore heartening to see the main insolvency trade body
actively taking steps to encourage creditors to engage in the
process. At the moment the guide deals only with English and Welsh
processes but it is intended at a later date to also cover Scottish
and Northern Irish insolvencies.
