UK Office Of Fair Trading Reviewing The High Cost Of Business Insolvency
By: Ainsley Brown
The Office of Fair Trading (OFT), the agency charged with policing trade practices – read unfair trade practices – has launched a study into the high cost associated with business insolvency.
The study will focus on the way insolvency practitioners, namely accountants and lawyers are appointed and how they set their fees. The importance of the study cannot be overstated as the high cost of going bust in the UK has been identified by practitioners, business and the Government as a source of weakness in the UK insolvency regime when compared to other countries.
The study is expected to be completed by the end of next year.
