R3 president outlines the challenges ahead

Mar 5 2008 by Peter McCusker, The Journal

REGIONAL members of the UK’s leading trade association for business recovery and turnaround specialists have heard their national president outline the challenges for the coming year.

Patricia Godfrey, president of R3, the Association of Business Recovery Professionals, met with her North East members at a special event, held at Dickinson Dees’s Quayside office in Newcastle.

Ms Godfrey, who is also head of insolvency at London law firm Nabarros, used her visit to highlight the changing nature of the insolvency profession and how regional experts should be looking to work with businesses and individuals to help manage their financial difficulties and achieve the best possible outcome to their specific situations.

R3 promotes best practice for professionals working with financially troubled individuals and businesses, and provides a forum for debate on key issues facing the profession.

Representatives of most of the North East’s leading accountants, law firms and insolvency practices are counted among R3’s North East membership base.

Jim James, chairman of R3 in the North East, and who is partner and head of the Insolvency and Corporate Recovery Unit at Newcastle-based law firm Ward Hadaway, said: “Our regional members play a central role in maximising the numbers of companies and jobs that can be saved across every kind of industry sector, and the issues with which they’re dealing on a daily basis are crucial to the continued economic well-being of the North East.”