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23/04/2010

New President offers positive messages for struggling firms

Steven Law, head of Business Recovery at Ensors Chartered Accountants in East Anglia, starts as President of R3, the trade body for insolvency professionals on 23 April 2010. He has over 19 years experience in business turnaround, in small to medium sized firms.

Steven said of the appointment:
“I am delighted to become R3 President at such a crucial time for our profession. During this recession I have seen businesses helping each other, and Insolvency Practitioners (IPs) contribute to that process. In 2009 alone the UK insolvency industry was responsible for rescuing nearly 6,000 businesses and helped to save nearly 2 million jobs in companies going through insolvency. Our members are experienced - the average age of those passing the entrance exams to become an IP is nearly 33 years old.

“Our challenges will increase during 2010 as the ‘insolvency lag’ kicks in, as both corporate and personal insolvencies continue to rise even after the end of the recession. Nearly 80% of corporate insolvencies are liquidations and it would be of enormous benefit to UK plc if we were able to achieve other outcomes for even just a small proportion of these liquidations.”

Steven has been active within R3 for some 17 years, most recently as an elected council member.

Steven continued, "I want my presidential manifesto to be a positive one, focused on the following key areas:

  1. Helping struggling businesses
  2. Encouraging more to embrace the rescue culture
  3. Upholding IP standards and integrity
  4. Engaging in a simple and direct way with Parliamentarians”

Steven succeeds former president and Partner at Begbies Traynor, Peter Sargent, who will remain on R3’s council. Taking over the post of vice-president is Frances Coulson, Head of Insolvency & Business Recovery and Managing Partner at Moon Beever solicitors in their Holborn office. The appointments last for one year.

Steven is available to comment on behalf of the insolvency industry on a variety of personal and corporate insolvency issues.


Methodology note: Ensors is a seventeen partner firm of Chartered Accountants with five offices throughout East Anglia – Bury St Edmunds, Cambridge, Huntingdon, Ipswich and Saxmundham. For over a hundred years Ensors has consistently helped businesses throughout the East Anglia region meet the challenges that lie ahead of them. Offering a wide range of services and a wealth of experience.


For further information about Ensors please contact:

Jane Newley
Business Development Manager
T: 01473 220065: E: jane.newley@ensors.co.uk


R3 Press Office

Notes to editors:

  • R3 is the trade body for Insolvency Professionals and represents the UK’s Insolvency Practitioners.

  • R3 comments on a wide variety of personal and corporate insolvency issues. Contact the press office, or see www.r3.org.uk for further information.

  • R3 promotes best practice for professionals working with financially troubled individuals and businesses; all R3 members are regulated by recognised professional bodies
     
  • R3 stands for 'Rescue, Recovery, and Renewal' and is also known as the Association of Business Recovery Professionals.