Jim takes a leading role | 23 January 08

A LEADING North insolvency expert has been appointed as the regional head of the UK’s key trade association for business recovery and turnaround specialists.

Jim James

Jim James (pictured above), partner and head of the Insolvency and Corporate Recovery Unit at Newcastle-based law firm Ward Hadaway, has taken up the North East chairmanship of R3, the Association of Business Recovery Professionals.

R3 promotes best practice for professionals working with financially troubled individuals and businesses, and provides a forum for debate on key issues facing the profession.

Representatives of most of the North East’s leading accountants, law firms and insolvency practices are counted amongst R3’s North East membership base.

Jim James has extensive experience in advising lenders, companies, directors, individuals and creditors on the options available when a business is in crisis or has failed.

He has advised banks, insolvency practitioners, directors, and creditors on issues as diverse as receiverships of quoted companies, voluntary arrangements for “former” multi-millionaires and negotiations with banks when businesses are in financial difficulty.

As well as being R3’s North East chairman, Jim also sits on its national General Technical Committee, which reviews and advises on proposed legislation affecting the insolvency sector, and is currently the only solicitor to sit on its Small Practices Group committee, which deals with issues of importance to Insolvency Practices with up to five partners.

Jim James said: “Issues around debt and insolvency, whether relating to companies, partnerships or individuals, can become very complex, and we are very fortunate to have such a strong representation of individual practitioners and firms working within the field.

“My aim is to use my regional chairmanship of R3 to raise the profile of the work our members do in helping individuals and companies resolve debt and insolvency issues, and to ensure that all members of the North East business community are fully aware of the range of regional expertise that might, one day, be able to help resolve a difficult financial situation.”

Patricia Godfrey, national chair of R3, said: “Jim is a well-respected member of both the insolvency profession and the wider regional business community, and his chairmanship will no doubt be of great benefit to the work that R3 does across the North East."