North-east restructuring and insolvency expert becomes chair of trade body R3 in Scotland
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A NORTH-east based restructuring and insolvency expert has been appointed as the chair of insolvency and restructuring trade body R3 in Scotland.
Richard Bathgate, who is restructuring partner at Johnston Carmichael, Scotland’s largest independent firm of accountants and business advisers, takes over as chair from Tim Cooper, Partner at Addleshaw Goddard.
In his new role, the Aberdeen-based Mr Bathgate will work with R3 to support the representation work R3 carries out on the profession’s behalf.
He said: “I’m thrilled to be taking over as chair of R3 in Scotland.
"The association has offered valuable support to the insolvency and restructuring profession, as well as insights into the major issues affecting it since I became a member and I want to continue this.
“The previous chairs have done fantastic work in bringing the Scottish insolvency and restructuring community together and with a new generation of young professionals in Scotland coming through, I’m keen that they and our more experienced members take advantage of all that R3 has to offer – whether that’s technical support, training, or networking opportunities.
“The past two years have undoubtedly been one of the toughest periods in living memory for Scottish businesses, but it’s the ones who sought early advice who have had the best chance of survival.
“Any business experiencing signs of financial distress – such as problems paying staff or suppliers, concerns about cashflow, or rising stock levels – should seek early advice from an R3 member so they have access to the full range of potential restructuring options available to them and more time to take a decision about their next steps.”
Prior to joining Johnston Carmichael, Richard worked in a Big 4 Restructuring team. There he focused on restructuring engagements, conducting independent business reviews for lenders and stakeholders, corporate insolvency and corporate restructuring.