Adrian Hyde, a Partner at CVR Global LLP with over 20 years of insolvency experience, has taken over as the new president of R3, the insolvency and restructuring trade body.
Throughout his career, Adrian has worked on a wide range of insolvency matters, primarily focussed on contentious insolvency, tackling crime, and fraud related cases, along with overseas issues at offshore jurisdictions and business centres.
Prior to joining CVR Global, Adrian was a partner for law firms Matthew Arnold & Baldwin and Moon Beever, specialising in insolvency and fraud issues. In 2008, Adrian joined Chantrey Vellacott DFK as an insolvency practitioner, and was one of the founding partners of CVR in 2015.
Commenting on his appointment, Adrian says: “One of my priorities will be to highlight the essential role the insolvency profession plays in the fight against fraud.
“With fraud on the rise and enforcement agencies finding their budgets constrained, the value of the insolvency profession’s work on the front line against fraud has never been more important. Over the next year, I’ll be working with other fraud experts within the profession, including R3’s Fraud Group, to identify what steps we or the government can take to help insolvency and professionals tackle fraud and protect businesses, individuals, creditors, and the wider economy.”
R3’s Fraud Group is chaired by Moon Beever senior partner and past R3 President Frances Coulson.
Adrian takes over as R3 president following the introduction of a number of reforms affecting the profession and with further changes planned to the corporate insolvency and restructuring framework.
Adrian says: “In recent years, the insolvency and restructuring profession has experienced a series of regulatory and legislative changes in a relatively short period of time. The scale and frequency of change has understandably left members of the insolvency and restructuring profession concerned.
“The UK has a world-class insolvency and restructuring regime of which to be proud. Any changes that are made to our regime should enhance rather than undermine it.”
Adrian adds: “R3 will continue to fight for the profession. We will remind the government to consider the necessity and appropriateness of reforms before proposing them, and will continue to ensure the profession’s voice is listened to and its concerns addressed when reforms are proposed and implemented.
“As the UK economy navigates the challenges posed by Brexit, it is vitally important that the insolvency and restructuring framework, and the practitioners who work within it, are in the best possible shape to continue to help rescue businesses and jobs, return money to creditors, and support individuals with financial problems. The more settled our framework, the easier it is for us to get on with the job.”
With Brexit negotiations beginning during the next 12 months, Adrian comments:
“Leaving the EU will pose challenges for UK-EU cross-border insolvency and restructuring work and will have wider implications for the UK’s reputation as a place ‘to do business’. It’s important the government listens to the profession and seeks in its negotiations to make sure that leaving the EU does not damage the UK’s position as a centre of international restructuring and insolvency.”
Adrian will also be building on the work of previous president Andrew Tate, a partner at Kreston Reeves LLP, to raise the profile and understanding of the insolvency and restructuring profession’s work outside of formal insolvency procedures.
Adrian says: “Our profession’s toolkit encompasses so much more than just formal insolvency work. When we’re called in for help early enough, there’s a lot we can do to support businesses outside of insolvency solutions. This year, we will continue to promote this aspect of our profession’s work, calling for reform where necessary.”
Adrian joined R3 Council in April 2014 and its Events, Courses and Conferences Executive Committee shortly afterwards, acting as Chair of the committee from February 2016 until October 2016. Over the last year, Adrian served as R3’s vice-president. His year-long term started on April 21.
Stuart Frith, partner in Stephenson Harwood’s restructuring and insolvency practice, is R3’s new vice-president.