Modernising R3 for the future: New Articles of Association and By-Laws

14 October 2024

On 30th September 2024 our members voted to approve the immediate adoption of our new Articles of Association at our Extraordinary General Meeting (EGM).

The adoption of the new Articles represents the culmination of an extended Governance improvement project commenced by R3 Council in 2022. The new Articles enable R3 to modernise our governance framework to reflect the evolving needs of the restructuring, turnaround and insolvency profession and more easily adapt to changes as the environment within which we operate continues to evolve into the future. Alongside the new By-Laws approved by R3 Council, the modernised Articles will enable R3 to continue delivering for our members in an efficient and effective way.

The new Articles set out the Association’s purpose, the role and powers of Council, and the wider governance of the Association. These are accompanied by new By-Laws which were approved by Council and set out the detailed rules for membership, including eligibility criteria, rights and processes for membership, enabling us to welcome all those who wish to be members of R3 going forward.

Alongside the Governance improvement project, we have also undertaken a comprehensive membership review during 2024 so that we could reflect the agreed desire of R3’s Council to have a broader, more diverse range of membership, drawn from across the restructuring, turnaround and insolvency profession. The overall aim of the review was to develop a membership proposition which was transparent, easy to understand and that provided a platform for future growth of R3.

You can find copies of the new governance documents at the links below.

     -     Articles of Association 2024

     -     By-Laws

Our members have, and always will be, at the heart of what we do as R3 and as we move forward with our new Articles and By-Laws, we shall continue to deliver value for our members by:

• Bringing the whole profession together to network and share best practice at our events and conferences.
• Raising standards through the delivery of our technical updates, briefings and training courses.
• Representing the profession through our lobbying work and responding to consultations.
• Providing opportunities for members to demonstrate your experience and expertise by sitting on one of our many committees, writing articles for Recovery magazine or speaking at one of our events.
• Supporting all of our members development throughout your career and whatever your specialism.

Thank you to all R3 members for your input in to this process either by attending or by submitting proxy votes. Your engagement and support have been instrumental in shaping R3’s future which will ensure we remain at the heart of the restructuring, turnaround and insolvency profession.

Caroline Sumner

Chief Executive Officer