Hyde joined R3’s council in April 2014 and its events, courses and conferences executive committee, acting as chair of the committee from February 2016 until October 2016. He has also served as R3’s vice-president over the past year.
Hyde has over 20 years of insolvency experience, focusing on contentious insolvency, tackling crime, and fraud-related cases, along with overseas issues at offshore jurisdictions and business centres.
He is currently a partner of CVR Global, being one of the founding partners of the firm. He was previously a partner for law firms Matthew Arnold & Baldwin and Moon Beever, specialising in insolvency and fraud issues.
The trade body for the UK’s insolvency and restructuring professionals said the new president was taking over from the previous president Andrew Tate, a partner at Kreston Reeves, following the introduction of several reforms affecting the profession and with further changes planned to the corporate insolvency and restructuring framework.
Hyde said that one of his priorities will be to highlight “the essential role the insolvency profession plays” in the fight against fraud.
He added, “With fraud on the rise and enforcement agencies finding their budgets constrained, the value of the insolvency profession’s work on the front line against fraud has never been more important.
“Over the next year, I’ll be working with other fraud experts within the profession, including R3’s fraud group, to identify what steps we or the government can take to help insolvency and professionals tackle fraud and protect businesses, individuals, creditors, and the wider economy.”
The new president also plans to urge government to consider the necessity and appropriateness of reforms before proposing them, as well as ensuring the profession’s voice is listened to and its concerns addressed when reforms are proposed and implemented.
“As the UK economy navigates the challenges posed by Brexit, it is vitally important that the insolvency and restructuring framework, and the practitioners who work within it, are in the best possible shape to continue to help rescue businesses and jobs, return money to creditors, and support individuals with financial problems. The more settled our framework, the easier it is for us to get on with the job.”
Hyde said that Brexit is expected to pose challenges for UK-EU cross-border insolvency and restructuring work and will have wider implications for the UK’s reputation as a place "to do business".
“It’s important the government listens to the profession and seeks in its negotiations to make sure that leaving the EU does not damage the UK’s position as a centre of international restructuring and insolvency.”
Stuart Frith, partner in Stephenson Harwood’s restructuring and insolvency practice, is R3’s new vice-president.