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<p>In May 2016 the Government published its Review of the Corporate Insolvency Framework
consultation. The consultation contained a package of proposals to improve the rescue
opportunities for financially-distressed companies in Great Britain.</p><p> </p><p>A
summary of responses to the consultation was published in September 2016.</p><p> </p><p>Following
the publication of the summary of responses, the Government has continued to engage
with a range of interested parties to further discuss and explore issues raised in
responses to the consultation. This further engagement will ensure that any reforms,
if necessary, will be fit for purpose and best achieve the Government’s aims of rescuing
distressed but viable businesses, therefore preserving both value and jobs.</p><p>
</p><p>The Government recognises the importance of the insolvency and restructuring
regime to the wider UK economy and the important role it plays in, amongst other things,
creating strong conditions for growth and access to credit. The consultation stage
impact assessment is available from <a href="http://www.gov.uk/" target="_blank">www.gov.uk</a>.</p><p>
</p><p>A full response to the consultation will be published later this year.</p>
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