Insolvency
An all-Party Parliamentary Group (APPG) has been set up in a bid to enhance MP's understanding of constituents' debt issues.
The Group, backed by insolvency trade body R3, has been launched in response to several concerns over insolvency and the impact on the individuals and businesses brought about by the recession. The group will act as a resource for MP's to enable them to learn much more about how insolvency is likely to affect their constituents and the wider economy. The APPG also aims to act as a forum for discussion between Parliament and the insolvency industry on issues such as personal and business financial failure, business recovery, turnaround and restructuring.
Natascha Engel, MP for North East Derbyshire, will chair the group. She said "We want this APPG to be a broad church and join together insolvency practitioners, Business Link, the local Chamber of Commerce, Citizens Advice and the Federation of Small Businesses into a local network. We need to take away the terrible stigma that's attached to insolvency."
Source: Credit Today August 2009