More than 100 insolvency and restructuring experts will be heading to the North East later this month when industry trade body R3 hosts its annual Northern Conference in the region for the first time.
The event, which is being held at Ramside Hall Hotel near Durham on Friday 24 March, will see industry leaders from right across the north of England debating key issues relating to the evolving UK insolvency framework and their impact on the way insolvency practitioners (IPs) work to save struggling companies and the jobs they sustain.
Alongside technical updates, the conference will also see presentations from outside speakers on a range of wider business matters, including a session on the economic outlook for the UK presented by the Bank of England’s agent for the North East, and by Durham-headquartered Atom Bank, the UK’s first online only bank, on the future of banking in a digital age.
R3 promotes best practice for professionals working with financially troubled individuals and businesses, and draws its members from many of the best-known names in the regional and national professional services community,
The most recent research carried out by R3 into the economic impact of the insolvency profession found that, out of approximately 4,995 businesses across the North East, North West, Yorkshire and Humberside which entered a formal insolvency procedure in 2013/14, 2,070 (41%) were rescued and around 92,135 jobs saved.
Neil Harrold, North East chair of R3 and a partner with Hay & Kilner Solicitors, who is organising and hosting the event, says: “The UK insolvency and restructuring framework is a fundamental part of the business cycle, helping to ensure that talent, assets and ideas are put to productive use and that creditors are repaid money wherever possible.
“The modern insolvency and restructuring profession is very much focused on finding solutions which enable struggling businesses to find a way back to stability and continue to provide vital employment opportunities, and much of the work that insolvency practitioners goes ‘under the radar’ to ensure crises are averted before they happen.
“We have a thriving insolvency and restructuring community in the North East which makes a massive contribution to the health of the regional economy, and bringing the north of England’s IPs to Durham and sharing their expertise with our regional practitioners will benefit all parties.
“We’re pleased to have been able to put together a diverse and interesting programme of events for our delegates, and are looking forward to showing those who’ve not been to this part of the country before what they’ve been missing.”