Alan Bennett, Partner at nationally recognised leading law firm Ashfords LLP, has been announced as the new chair of R3, the insolvency trade body, for the South West & Wales. Alan, a Partner in Ashfords’ Restructuring and Insolvency Team, takes up his role providing support to R3 members in the region, helping them promote their work and meet the changing financial challenges of individuals and businesses across various sectors.
Alan commented: "I have been a member of the regional committee in different guises for eight years, and I look forward to getting my teeth into this new role.
"Businesses and individuals continue to come up against tough economic obstacles. At R3, we are here to support insolvency professionals to help their clients, and I look forward to meeting with local members to better understand how we can work with them in future. The South West has a very unique economy and as such, unique issues and opportunities. It is an area heavily dependent on tourism and agriculture and these sectors often operate at the mercy of factors beyond their control such as the weather or customers’ spending habits.
"One thing is certain, during my two year appointment I will be highlighting the importance of encouraging individuals and businesses, who are worried about their financial future, to seek professional advice before it’s too late."
R3 members in the region work with businesses and individuals in financial distress, and according to our research the South West & Wales had the second highest rate of businesses recovery in the UK. In 2013-14 our members rescued 600 businesses and saved 9,300 jobs.
Alan has around 15 years’ experience in the insolvency sector. At Ashfords LLP, Alan advises insolvency practitioners, directors, lenders and individuals on a range of insolvency issues from antecedent transactions and sale and purchase of insolvent businesses to restructuring and advice to corporates facing financial difficulties.