A Midlands-based insolvency lawyer has taken over as chair of the Midlands branch of insolvency and restructuring trade body R3.
Stephen Rome, who is a director and practice leader at law firm Thursfields, will serve a two-year term at the regional helm and will be heading up campaigns to support local businesses and individuals in financial distress.
He will be working alongside R3 and the regional committee to highlight how R3 members are able to save hundreds of companies and thousands of jobs each year, many without the need for a formal insolvency process.
Stephen has been based in the Midlands for over 15 years and has a broad range of legal experience advising on commercial litigation and contentious insolvency, covering sectors such as energy, real estate, automotive and financial services.
Commenting on his appointment, Stephen said: “We are facing one of the toughest periods in living memory for many Midlands businesses, with huge post-pandemic challenges and economic turbulence impacting heavily on cashflow.
“As a leading professional body, we are strongly committed to supporting our members as well as campaigning for businesses and individuals in crisis, their creditors and other stakeholders, in order to maximise outcomes for all concerned.
“R3’s key message for the Midlands is that it is imperative for companies and individuals in financial difficulty to seek timely and qualified advice from a professional and reputable source. Quite simply, the earlier we become involved, particularly at a time like the present, the more we can do to help turn things around.”
