North East restructuring and insolvency expert becomes president of R3 trade association in Scotland
A restructuring and insolvency expert based in the NORTH East has been appointed chairman of the R3 business body for insolvency and restructuring in Scotland.
Richard Bathgate, who is a restructuring partner at Johnston Carmichael, Scotland’s largest independent accounting and business consulting firm, succeeds Tim Cooper, partner at Addleshaw Goddard.
In his new role, Aberdeen-based Bathgate will work with R3 to support the advocacy work R3 does on behalf of the profession.
He said: “I am delighted to take over the Presidency of R3 in Scotland.
“The association has offered invaluable support to the insolvency and restructuring profession, as well as an overview of the main issues that have affected it since I became a member and I wish to continue on this path.
“The previous Chairs have done a fantastic job of bringing the Scottish Insolvency and Restructuring community together and with the arrival of a new generation of young professionals in Scotland I wish they and our more experienced members would benefit from everything R3 has to offer – whether it’s technical support, training or networking opportunities.
“The past two years have undoubtedly been one of the most difficult times in living memory for Scottish businesses, but it was the ones that sought early advice that had the best chance of survival.
“Any business experiencing signs of financial distress – such as issues with paying staff or vendors, concerns about cash flow, or increasing inventory levels – should seek advice from an R3 member as soon as possible so that ” it has access to the full range of potential restructuring options at its disposal and more time to make a decision on their next steps.
Prior to joining Johnston Carmichael, Richard worked in a Big 4 Restructuring team. There he focused on restructuring assignments, conducting independent business reviews for lenders and stakeholders, corporate insolvency and corporate restructuring.