Insolvency – happy endings ?!
Some much needed commonsense is working wonders in the current economic environment. Insolvency practitioners are all too often seen as “executioners” in terms of jobs but under a scheme running very well, co-operation between IP’s and the Jobcentre is thought to have assisted up to 32,000 in finding new jobs quickly instead of redundancy if there is an impending insolvency situation.
How it works
The scheme works by way of partnership between insolvency practitioners (IPs) via their trade body R3 and Jobcentre Plus. Ip’s are encouraged to advise Jobcentre Plus about the likelihood of redundancies in a given situation as early as possible giving the Jobcentre some time to seek to find alternative employment for the staff likely to be affected.
This si an excellent scheme and reflects well on all parties, not least Insolvency Practitioners. More creative solutions to difficult business situations should certainly be encouraged.