Back to listing

28/04/2014

Giles Frampton takes over as R3 president

Giles Frampton, an insolvency practitioner with over 25 years’ experience, has begun his term as president of R3, the insolvency trade body.

Giles, who will be president for the next 12 months, is chartered accountant and partner in Devon and Cornwall-based insolvency and forensic accounting specialists Richard J Smith & Co.

R3 president Giles Frampton says: “The next twelve months will be an important year for the insolvency profession. There is a plethora of government proposals for insolvency reform either on the table or soon to be announced, including those on insolvency fees, regulation, and pre-packs. It’s vital that any ensuing changes enhance the UK’s insolvency regime.”

“The UK’s insolvency profession is a valuable one. In 2012, we helped save over 6,000 businesses and roughly 750,000 jobs*. The World Bank says the UK has the world’s 7th best track record on insolvency, with almost 89% of debts typically brought back to creditors.”

“In my year as president, I will be focusing on the value of the profession, the fairness of the profession, and the regulation of the profession. I am looking forward to working closely with the government and other stakeholders to make sure the insolvency profession is delivering maximum value to creditors and debtors alike.”

“An insolvency profession that is seen to be delivering value in a fair and accountable way is one that will have the confidence of the public and UK businesses.”

Giles deals with a wide range of both personal and corporate insolvency cases. He first became involved with R3 in 2005 when he joined the body’s General Technical Committee. He was chairman of that committee until last year, and is co-editor of Jordan’s ‘Individual Voluntary Arrangement’.

Giles has previously been the accounting member of the Lord Chancellor’s Insolvency Rules Committee and an examiner for the Joint Insolvency Examination Board’s personal insolvency paper.

Giles succeeds Liz Bingham, a managing partner at EY, as R3 president. R3’s new vice-president, Phillip Sykes, is a partner at accountancy firm Moore Stephens. A new deputy vice-president will be announced shortly.

Giles’ term officially started on 25 April 2014.

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.