Top Herbert Smith lawyer Stephen Gale is to become the group’s president.
Gale and Oldfield, both licensed insolvency practioners, were voted in at therevamped association’s first annual general meeting. Gale will be the secondlawyer to head the ten year old organisation.
‘Encouraging professionals from non-insolvency backgrounds will be a key aim formy year of office,’ Gale said.
The new president added that he was committed to R3 leading the debate on theinsolvency bill and the possible changes to personal insolvency and businessrescue legislation.
He said: ‘There is a real chance to radically reshape Britain’s rescue cultureand I believe we should mobilise British business to ensure sensible andeffective change.’
R3 was formed at the beginning of the year following a Society of Practioners ofInsolvency (SPI) vote to allow business rescue professionals who do not haveinsolvency licenses to become members.
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