Insolvency expertise ‘absolutely vital’ in wake of crisis, says incoming trade body chair
PUBLISHED: 11:53 15 June 2020 | UPDATED: 12:55 15 June 2020
An Ipswich commercial lawyer who acted for companies over last year’s liquidation of travel giant Thomas Cook Group has taken over the regional reins at an insolvency and restructuring trade body.
Alistair Bacon – who heads up commercial law firm AMB Law in Ipswich and the City of London – is the new regional chair of R3 Eastern. He takes over from insolvency practitioner Mark Upton of Ensors Chartered Accountants.
The trade association represents insolvency practitioners, lawyers, turnaround and restructuring experts and students.
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“With the current situation regarding COVID-19 causing huge challenges for so many of us, the role played by R3 members in advising people and companies in financial distress is absolutely vital,” said Mr Bacon.
“The insolvency and restructuring advice and support we offer can, and will, help to support business and job rescue across the East of England.
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Mr Bacon has nearly 30 years’ experience in insolvency and restructuring, advising UK and overseas professional firms, banks, corporates and stakeholders.
His work has included acting for companies in the Thomas Cook Group, following the company’s liquidation last year, and advising the board of Saab GB on the liquidation of the global group. He has also advised companies within the international Barcelo Hotel Group and Suffolk-based construction specialist Radford Group.
“As a leading professional body, we are strongly committed to supporting our members as well as campaigning for businesses and individuals in financial crisis, as well as their creditors and other stakeholders, in order to secure the best outcome for all concerned,” he said.
“R3’s key message for the East of England is that it is imperative for companies and individuals in financial difficulty to seek timely and qualified advice from a professional and reputable source.
“Quite simply, the earlier we become involved, particularly at a time like the present, the more we can do to help turn things around.”
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