Birmingham-based insolvency practitioner Matthew Hammond has been appointed chair for the Midlands region of insolvency trade body R3, taking over from Begbies Traynor partner James Martin.
A partner at the Midlands office of PricewaterhouseCoopers, Mr Hammond has over 15 years’ experience working in the local restructuring, turnaround and insolvency arena and has served as vice-chair of R3’s Midlands region committee for the past two years.
The Midlands branch of R3 is one of the most active in the country, with close to 400 members specialising in advising companies and individuals in financial difficulty.
Mr Hammond said: “As the voice of the region’s insolvency and business recovery profession, R3 is at the forefront of public opinion, campaigning for businesses in crisis and their creditors in order to maximise outcomes or returns for all concerned.
“I intend to continue this communications strategy with the aim of promoting a thriving rescue culture, and I look forward to developing R3’s future direction for the region with the support of our able and enthusiastic Midlands committee. As we emerge from recession with an ‘insolvency lag’ indicating an imminent rise in insolvency cases, there could scarcely be a more challenging time to take over as chairman.
“Business and personal debt levels will, almost undoubtedly, continue to rise, and the economic and political landscape remains uncertain as the new coalition government takes shape.
“Whilst R3 will continue to lobby and campaign to ensure that viable businesses do not fail unnecessarily, our over-riding message is that individuals or companies in financial difficulty should seek immediate professional advice.
“The earlier we become involved, the greater the prospect of a rescue.”