CPD Hours: 
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West & Wales Meeting
Annual joint IFT, TMA & R3 Event


Bookings are now closed
Thursday 11th May 2017, Bristol

The Big Debate: 
Are the Current UK Turnaround and Insolvency Regimes Fit for Purpose?
 
On Thursday 11 May 2017, The IFT, the Turnaround Management Association and R3 will together host an evening with outstanding speakers, lively debate and networking opportunities over drinks and a buffet.
 
Timings:
6pm – Registration, tea & coffee
6.30pm – Debate commences
7.30pm – Debate opens to the floor
8pm – Networking, buffet & drinks
 
The debate:
The World Bank produces an annual ranking of insolvency and turnaround regimes based on a number of factors including recovery rates, duration of the process, costs, outcome and the strength of the insolvency framework. The UK has been ranked number 13 for the past two years.
 
In 2016, the government initiated a 'Review of the Corporate Insolvency Framework' which received a significant amount of feedback and comments from the bodies that this impacts. The consultation sought views on whether the UK’s regime needs updating in light of international principles developed by the World Bank and the United Nations Commission on International Trade Law (UNCITRAL), recent large corporate failures and an increasing European focus on providing businesses with the tools to facilitate company rescue.
 
The consultation looks at four broad areas for reform to improve the efficiency of the rescue and restructuring tools available to companies in the UK, which are:
  • Introducing a moratorium for distressed businesses to benefit from protection against legal action while considering their options for rescue
  • Widening the definition of essential supplies, with appropriate safeguards for suppliers, to assist distressed businesses
  • Developing a new restructuring plan to increase the options available to rescue businesses
  • Increasing the availability of rescue finance
The debate will consider whether the current UK turnaround and insolvency regimes are fit for purpose, whether the proposals will be beneficial and, indeed, whether the proposals go far enough.
 

Our Speakers comprise: Stefan Ramel Guildhall Chambers, Richard Clark TLT Solicitors, Joanne Rumley Foot Anstey LLP, Ross Connock PwC, David Pike KPMG, David Bryan BM&T LLP

 

About our speakers

Stefan Ramel

Stefan Ramel Stefan is an established commercial advocate who litigates in all courts in England and Wales. His practice areas include insolvency, commercial, company directors’ disqualification, banking & finance, professional negligence and sports law. He was re-appointed as Junior Counsel to the Crown in October 2015 which enables him to undertake government work. He also sits in a judicial capacity for British fencing.

Stefan is top-rated for his insolvency work by Chambers and Partners. He is described by clients as having an "outstanding intellect"; his knowledge of insolvency is described as being diverse and in depth. He is noted as thinking "outside of the brief" and identifying "technical points of law which can impact on the strategy followed for a case".

His caseload covers both corporate and personal insolvency work. He has appeared in insolvency cases in the County Court, the High Court, and the Court of Appeal. He works both for and against insolvency officeholders in transaction avoidance litigation, and also appears and advises on petitions (bankruptcy / liquidation) and applications (administration / extension of administration / provisional liquidation / set aside statutory demands). The value of the cases that he is involved in ranges from tens of thousands of pounds to multi-million pound cases.

Richard Clark

Richard ClarkRichard is a Legal Director at TLT LLP, specialising in domestic and international restructuring and insolvency work,and in complex banking, pensions, consumer finance and regulatory issues.  
Richard has 15 years' experience in the insolvency sector, was one of the first insolvency lawyers to commence secondary proceedings for tactical purposes under the EC Insolvency Regulation.  Richard is a Fellow of R3 and a member of R3's National Council.

Joanne Rumley

Joanne Rumley Joanne specialises in all aspects of corporate rescue, turnaround and insolvency including both formal and non-formal procedures. She has particular expertise in restructuring, security issues and advising boards of directors of companies close to insolvency.

Recent transactions have taken place across the retail, energy, education and healthcare sectors and she is one of only a few lawyers nationally to advise on the investment bank special administration regime. Joanne has worked for a number of business support teams of major clearing banks, and also advises distress lenders both in acquiring debt or equity and then managing their exposure including via exit.

Joanne has developed a practice of providing board level advice to directors of businesses close to insolvency, particularly around their duties and responsibilities when dealing with a distressed business.  She has significant experience advising stakeholders/creditors managing risk and exposure to businesses in financial difficulty.  Supply chain advice to major corporates is also a focus.

Ross Connock

Ross ConnockRoss leads PwC’s restructuring team across the West and Wales, undertaking strategic, operational and financial reviews for businesses and their stakeholders, cost reduction and working capital improvement projects, accelerated M&A, contingency planning and formal insolvency procedures.

Ross’s broad sector experience has been gained over near 30 year’s operating in the West Country, Wales and London. He has also worked on a number of cross 
border projects in and involving Europe, the US and Canada.

For 13 years now Ross has also focused on advising trustees and companies with defined benefit pension’s schemes on sponsor covenant, affordability and pensions led restructuring.
He was past Regional Chair of R3 in the South West & Wales for 2014/15 and had been on the regional committee for 9 years until the end of 2016.

David Bryan

David BryanDavid Bryan is Managing Partner and CEO of boutique turnaround and restructuring firm BM&T, a founder member of the European Restructuring Solutions network.

A Chartered Accountant, David spent several years in manufacturing industry with United Technologies and The Mayflower Corporation including time as CFO of operations in the US and Europe.

David joined US turnaround firm Glass & Associates in 2004 before founding BM&T in 2008. He Co-authored the ICAEW’s best practice guideline on Turnaround and has won two TMA Turnaround of the Year awards. He is a director of the TMA UK chapter and of TMA Europe.

Duncan Parkes

Ross Connock

As a banker, Duncan was involved in his first major business rescue in the late 1980’s involving a large conglomerate that was considered ‘too big to fail’ prior to the invention of the cliché.  This encompassed alleged ‘bugging’ of meeting rooms, a criminal prosecution of the CEO and manufacture of components for an Iraqi Supergun amongst other adventures and, as an impressionable mid-twenties, Duncan decided this might be an interesting part of banking in which to work! 

However, once the recession of the early 90’s abated, he broadened his experience in Leveraged Finance and Private Equity where he was a director of several companies, one of which failed and another that was successfully pre-packed to a Newco.  This gave him a completely different perspective on restructuring and insolvency. 

Duncan led Lloyds Bank’s Turnaround Team from 2005 and enjoyed a particularly ‘interesting’ four years to 2012 leading part of the enlarged team, following the merger with Bank of Scotland. 

Duncan is now an independent helping small and medium size businesses face difficult challenges arising from success as much as failure as he prepares for the downturn of the late 20teens.

David Pike

David Bryan

David leads KPMG’s Restructuring team for the South West and South Wales, providing a full range of solutions for companies and their stakeholders.  He has a range of advisory and execution experience; from SMEs to large complex and cross-border situations across Europe, North America, ASPAC and offshore jurisdictions.

As well as recent special administration, administration and liquidation appointments, David has direct experience in a number of Chapter 11 assignments including MPF Corp and Refco as well as devising a number of confidential contingency plans.  In 2014 David led the financial restructure of Cimos d.d. through a Slovenian compulsory settlement procedure; being the first time it had been deployed through a creditor-initiated process.

 
Location:
Date: 
Thursday, May 11, 2017 -
18:00 to 21:00
Type:
Address: 
Council Chamber, City Hall, College Green, Bristol
BS1 5TR