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28/04/2016

Andrew Tate takes over as R3 president

Andrew Tate, Partner and Head of Restructuring at Kreston Reeves, and an insolvency practitioner with over 25 years’ experience, is set to become the new president of R3, the insolvency trade body.

His year long term starts at 12.00 tomorrow (Friday).

Andrew has been a licenced insolvency practitioner since 2000. He started his career at BDO and Deloitte, later becoming a partner in Baker Tilly, followed by a partnership in a smaller firm, Abbott Fielding, before moving to Kreston Reeves LLP in 2011 to lead its restructuring practice.

Andrew provides advice in a wide range of distress situations, providing strategic direction and restructuring advice to clients in addition to taking formal insolvency appointments, many of which include elements of investigation work.

Commenting on his appointment, R3 President Andrew Tate says: “During my term as president, I will focus on shedding light on the wide skill set of R3 members and how these are used successfully in the UK economy, often without any publicity or recognition. In the past decade we’ve seen a shift in the insolvency landscape, with a greater focus on restructuring outside of formal insolvency processes. This valuable work rescues businesses and jobs and should be recognised. I would like to identify changes that would enhance the profession’s use of its skill set to rescue businesses to an even greater extent.”

Andrew is keen to ensure the government listens to the insolvency profession’s concern about the recent swell of legislative changes that have been introduced affecting formal insolvency procedures.

Andrew Tate says: “Insolvency has seen a wave of legislative changes in the last number of years, and it’s important that these changes are implemented properly.”

“As the insolvency profession’s representative, I want to ensure that these changes enhance, not undermine, the UK’s well-regarded insolvency regime and allow insolvency practitioners to continue to get on with their role of saving businesses and jobs, returning money to creditors, and helping indebted individuals recover.”

Andrew continues: “Having worked in a small practice myself I am also keen to make sure policy makers are aware of the value that practitioners from smaller firms provide to smaller businesses in local communities and ensure that the needs of small and micro businesses are taken into account when making changes to procedure or legislation.”

Andrew has previously served for three years as chairman of R3’s Smaller Practices Group which supports the needs of smaller practice members. He also sits on R3’s Council.

Andrew is a Fellow of the Association of Chartered Certified Accountants (ACCA), and has represented them on the Joint Insolvency Committee, the main standard setting body for insolvency practitioners; he chaired the committee for three years when the committee brought in changes to the way in which prepack administrations are handled and developed the ethical code followed by insolvency-practitioners. He is also an Associate of the Institute of Chartered Secretaries and Administrators.

Andrew takes over as R3 President from Phillip Sykes, a Partner in RSM.

Adrian Hyde, R3 deputy vice-president 2015-16 and partner at CVR Global, is R3’s new vice-president and specialises in larger contentious insolvency, international, and fraud related cases. A new deputy vice-president will be announced in due course.

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.