Annual General Meeting, Insolvency and CICM HQ Update
The event at FRP Advisory LLP in Brentwood opened with FRP Director Martin Weller’s insightful snapshot of the present insolvency world, which sparked lively discussions. He explained that CVA’s continue to have a low rate of success with many failing to reach their targeted solution to turn their business around. The reintroduction in April of the crown preference, when HMRC will rank behind fixed charge holders and ordinary preferential creditors (employees) but ahead of floating charge holders and unsecured creditors, will potentially have an impact on the level of recoveries that can be achieved by any creditors ranking behind HMRC. Credit Managers will be intrigued as to how this plays out in the coming year! Martin also talked about the increased powers of Companies House, the clamp down on loan charge schemes, and IR35 changes.
Branch committee member Katherine Bailey, standing in as a speaker, gave an update on the mentorship programme, the knowledge hub, the apprenticeship scheme, tutoring, and the training partnerships with CICM.
East of England Chair Atul Vadher reported on another good year, and on the Branch events in central London, Chelmsford and Norwich.
The major conference, held in London in November in conjunction with Kent Branch, had been a great success and was the highest attended Branch event in the entire country, with excellent feedback on the venue, content and speakers. He thanked Goodman Masson for hosting and sponsoring, all of the speakers, and Cforia for sponsoring the business card draw.
Denise Bassingthwaighte’s Treasurer’s report, given by Vice Chair Richard Brown in her absence, advised a healthy bank balance thanks to the generosity of sponsors Goodman Masson, Hays, Valor Hospitality Europe and FRP Advisory LLP.
Despite a 7% drop in membership in the year the Branch was the seventh largest in the country, covering seven counties.
An eleven strong Branch Committee was elected – all but one of the existing members plus Liam Hastings and Mark Maynard – who took over as Treasurer from the retiring Denise Bassingthwaighte. Atul thanked Denise for her support over many years, as well as the rest of the committee.
Carol Baker gave an update on, and sought views on, possible events and locations in 2020. After much discussion the Committee took away a number of ideas for consideration.
Atul closed a stimulating and enjoyable evening by thanking FRP Advisory for kindly hosting the evening and for their generous hospitality.
|Atul Vadher||Martin Weller|