Richard Bathgate, partner at independent accountancy and business advisory firm Johnston Carmichael, has been appointed as the new chair of R3, the Scottish arm of insolvency and restructuring trade body.
Bathgate takes over the role from Tim Cooper of Addleshaw Goddard, and he will now support the representation work R3 carries out on the insolvency and restructuring profession’s behalf.
Prior to becoming chair, Bathgate was a member of R3’s Scotland committee.
R3 provides professional development courses to help members build on their knowledge and expertise on the insolvency and restructuring community. The organisation also supports “financially distressed” businesses and individuals, and the UK economy.
Bathgate is a licensed insolvency practitioner and a fellow of the Association of Chartered Certified Accountants (ACCA).
Based in the Aberdeen office, he joined Johnston Carmichael in 2016, and specialises in corporate restructuring, accelerated sales processes, independent business reviews, corporate insolvency and members’ voluntary liquidations.
Bathgate said: “I’m thrilled to be taking over as chair of R3 in Scotland. The association has offered valuable support to the insolvency and restructuring profession, as well as insights into the major issues affecting it since I became a member and I want to continue this.
“The past two years have undoubtedly been one of the toughest periods in living memory for Scottish businesses, but it’s the ones who sought early advice who have had the best chance of survival.”
He added: “Any business experiencing signs of financial distress – such as problems paying staff or suppliers, concerns about cash flow, or rising stock levels – should seek early advice.”