New President of R3 announced - Mr Peter Sargent - Begbies Traynor

The Association of Business Recovery Professionals (R3) has announced a new president for the forthcoming year. The press release notes:
"Peter Sargent becomes the next president of R3

Peter Sargent, Partner at Begbies Traynor in Halifax, has started his year tenure as R3’s new president today. Peter is well placed as a spokesperson for R3, the insolvency trade body, with over 25 years experience working on both corporate and personal insolvency cases.

Peter said of his goals as president: “The three things I want to focus on are financial education, reputation of insolvency practitioners, and providing value for money for our members.

“I am particularly keen to raise the profile of financial education, because as an insolvency practitioner I feel as though I am constantly treating the symptoms, but we need to work towards a cure. As the recession deepens, the personal cost of debt will continue to rise. I see cases where people have put their lives into companies, and when they fail it is like a death in the family. We need to look at rehabilitating business owners, and educating individuals as it is proven that those with financial qualifications are less likely to struggle financially later on in life.”

Peter started his insolvency career at Revell Ward, a mixed firm in Huddersfield. He became a partner in the practice in 1988 and subsequently left to start his own firm in 1995. The firm was then acquired by Begbies Traynor in November 2005. He was also a founder member of the Huddersfield Town Survival Trust which brought about the rescue of the club by local businessmen in 2004.

Peter succeeds former president and Partner at Vantis, Nick O’Reilly, who will remain on R3’s council. Taking over the post of vice-president is Steven Law, a Partner at Suffolk based accountancy firm Ensors.

Peter is available to comment on behalf of the insolvency industry on a variety of personal and corporate issues."

Mr Sargent's comments in relation to debtor education are particularly interesting especially in light of the of the findings of the Personal Insolvency Project (2007) in that area and because of the rather checkered experience of the Americans and Canadians in this regard. It will be interesting to see how he develops this part of R3's remit over the coming year. 

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