Insolvency specialists claim to save 125,000 UK jobs

Posted on 6 Oct 2011 by The Manufacturer

Almost 125,000 UK jobs have been saved in the last two years by finalists and winners of the Insolvency and Rescue Awards 2011 held at The Lancaster London Hotel last night.

The Insolvency and Rescue Awards 2011 recognise individuals, teams and companies within the profession who have saved jobs, revived businesses and rehabilitated thousands of individuals’ broken finances.

Finalists such as The Royal Bank of Scotland, PwC, and KPMG have provided funding and advisory services to companies in troubled financial situations for a number of years. Since 2009, collectively the award finalists have been turning around approximately 3,000 struggling businesses, saving an estimated 124,490 jobs and contributing to the UK economy. The fourth Insolvency & Rescue Awards, organised by Insolvency Today magazine, celebrates these achievements.

The awards were judged by a panel of 15 industry leaders and respected authorities, including the chief executive of the Insolvency Practitioners Association, senior employees at the Business Support departments of Barclays Corporate and Lloyds Banking Group, and leading figures at KPMG, PwC and Ernst & Young.

Kamala Panday, publisher at Insolvency Today, and organiser of the Insolvency & Rescue Awards 2011 said: “The awards support the aim of raising standards across the industry. Both our award winners and finalists are all doing exactly that, providing excellence and best practice in a field that is too often misunderstood.”

“We asked our finalists and winners to calculate how many jobs they had saved by rescuing companies. Of those that responded, the total came to nearly 125,000. The figure is likely to be significantly more across the full list of finalists, which is fantastic for the UK economy.”

The 2011 Insolvency & Rescue Award winners:

Insolvency Practitioner of the Year – Personal
Joint winners
• Matthew Chadwick, national head of courtwork, BDO LLP
• Jackie Westerman, insolvency practitioner, CCCS Voluntary Arrangements

Insolvency Practitioner of the Year – Corporate
• Ian Mark Defty, partner, Kingston Smith & Partners LLP

Turnaround Practitioner of the Year
• Roger Bayly, partner, head of turnaround, KPMG LLP

Insolvency Manager of the Year
• Robert Steven Wilkinson, senior manager, Cooper Williamson
• Richard Bathgate, manager, PricewaterhouseCoopers LLP – HIGHLY COMMENDED
• Matthew Callaghan, manager, PricewaterhouseCoopers LLP – HIGHLY COMMENDED

Lawyer of the Year
• Nick Moser, partner, restructuring and corporate recovery, Taylor Wessing LLP

Rising Star Award
• Jane Warner, managing director, Baronsmead Consulting

Banking Restructuring Team of the Year
• Global restructuring group UK, The Royal Bank of Scotland

Corporate Recovery Firm of the Year – Small firms (up to 3 licensed appointment taking IPs)
• Parker Andrews

Corporate Recovery Firm of the Year – Mid sized firms (4-20 licensed appointment taking IPs)
• Leonard Curtis

Corporate Recovery Firm of the Year – Large firms (21 plus licensed appointment taking IPs)

Business Rescue of the Year – under £20m turnover
• PricewaterhouseCoopers LLP / The New Victoria Hospital

Business Rescue of the Year – £21m to £50m turnover
• PricewaterhouseCoopers LLP / British School of Motoring

Business Rescue of the Year – £51m plus turnover
• KPMG / Cattles

Debt Management Provider of the Year
• Debt Advisory Line

Insolvency Law Firm of the Year
• Lawrence Graham LLP