What we do

What We Do

R3 is the trade association for the UK’s insolvency, restructuring, advisory, and turnaround professionals. We represent insolvency practitioners, lawyers, turnaround and restructuring experts, students, and others in the profession.

Our Full Members are qualified, regulated and work across the spectrum of the profession, from the global legal and accountancy firms through to smaller, local practices.
 
The insolvency, restructuring and turnaround profession is a vital part of the UK economy. The profession rescues businesses and jobs, creates the confidence to trade and lend by returning money fairly to creditors after insolvencies, investigates and disrupts fraud, and helps indebted individuals get back on their feet.
 
The UK is an international centre for insolvency and restructuring work and our insolvency and restructuring framework is rated as one of the best in the world by the World Bank. R3 supports the profession in making sure that this remains the case.
 
R3’s work includes:
 
• Technical support for members
• Education, training and networking opportunities
• Public affairs, press and policy work
• Support for all practice sizes, including dedicated smaller practice support
• Marketing and advertising opportunities
• Guidance for businesses and individuals

 

Technical Support

R3 offers its members unrivalled technical support, providing regular briefings, guides and courses on how to comply with new rules and regulations in practice.

Read more about R3's technical support for members here.

Education, Training and Networking

R3 is the leading provider of dedicated education, training and networking events for the insolvency and restructuring profession. R3 offers a wide range of educational courses and networking opportunities at local and national levels.

Public Affairs, Press and Policy Work

R3 raises awareness of the key issues facing the UK insolvency and restructuring profession and framework among the public, government, policymakers, media, and the wider business community. This work includes highlighting both policy issues for the profession and challenges facing business and personal finances.

R3 ensures the profession’s voice is heard and that legislation and regulation allow the profession to get on with its work.

R3 achieved key changes to the 2015 Small Business, Enterprise and Employment Act and the 2013 Enterprise Act, benefitting creditors, indebted individuals, our profession, and the economy as a whole. In 2016 and 2017, R3 has worked closely with the government on its proposed corporate insolvency reforms.

Read more about R3’s policy and public affairs work here, and press work here.   

Smaller Practices Group

R3 offers dedicated support for members in smaller practices through our Smaller Practices Group (SPG). Support includes providing tailored guidance and tips on issues facing smaller practices and ensuring smaller practice concerns are addressed by R3’s press, public affairs, and technical work.

SPG also hosts educational courses specifically aimed at smaller practices, including an annual forum, which gives members the opportunity to network and learn about upcoming changes in the profession relevant to their practices. See more here. 

Member Benefits

Member benefits for all members include: 

• Significantly discounted member rates for annual conferences, courses and 
        events offering the largest profile of technical and social events for 
        professionals in insolvency, restructuring and business turnaround. 
• A subscription to R3’s RECOVERY magazine – the leading magazine for 
        professionals in the sector.
• Eligible members profiled in the annual R3 Directory, the definitive list of 
        those working in insolvency,  restructuring and business turnaround.

Become an R3 member here. 

Get Involved

R3’s members play an important part in the running of R3. There are opportunities to get involved in our policy, technical, membership, education committees, our Smaller Practices Group, and our regional committees. You can find out more about the work of our committees here and find out more about R3 in your region here.

Advice for Businesses and Individuals

R3 has created a dedicated website for creditors to guide them through the insolvency process.
 
For businesses and individuals in need of financial advice, R3 provides 
guides to insolvency procedures. 

You can also find a local insolvency practitioner in our online directory. 
Insolvency practitioners will often offer an hour’s free advice and will be able to talk you through all the options available to you in your situation.

The sooner you speak to an insolvency practitioner about the difficulties you face, the more options you have.

 

R3 is a private company limited by guarantee and operates as a not-for-profit organisation.

 

Key facts about the UK's insolvency and restructuring regime
  • The UK’s insolvency regime is one of the best in the world according to the World Bank. It has one of the highest rates of returns to creditors, returning money quicker and cheaper than regimes in the US, Germany and France.
  • There are approximately 1,750 IPs in the UK and around 12,000 professionals who work in insolvency. 
  • Most insolvency practitioners are accountants or lawyers. They are all qualified and regulated by one of five regulatory bodies.In 2013-14 UK insolvency practitioners:
  • In 2013-14, UK insolvency practitioners:
    - Rescued approximately 6,700 (41%) of insolvent businesses, saving around 230,000 jobs.
    - Advised 135,000 people about their finances and started work on cases that will help individuals repay £5bn of personal debt within 5 years.

R3