Begbies Traynor has become the latest associate member to join the Association of Short Term Lenders (ASTL).
Begbies Traynor, a leading corporate rescue and recovery firm, was founded in 1989 and now has 44 offices across the UK. Begbies Traynor delivers solutions for businesses, financial institutions and professional advisers in the areas of corporate recovery, insolvency, restructuring and turnaround, corporate finance, investigations, security risk and forensic accounting. Its clients include commercial organisations of all sizes that may be facing day-to-date or long-term financial challenges.
The majority of Begbies Traynor’s involvement with the ASTL members will be through a specialist property division which provides advice and assistance to first charge lenders when their client suffers financial distress. Paul Stanley, regional managing partner at Begbies Traynor Manchester heads up the division.
Paul Stanley says, “Similarly to the ASTL, we are specialists in what we do. Our own values mirror the association’s ethos of integrity, honesty and transparency and, for us, reputation is absolutely key. This is one of the reasons why we wanted to become an associate member of the ASTL. We look forward to helping influence the reputation of the industry by working with the association to further improve the standards in the market.”
Benson Hersch, CEO of the ASTL, says, “The ASTL’s membership has continued to grow steadily, highlighting how more and more lenders and service providers recognise the value of the association. Like other associate and lender members, Begbies Traynor has recognised the high standards set by the association and we are delighted that they have chosen to join us.
“Due to Begbies Traynor’s practical approach, vast experience and deep industry knowledge, I am confident that it will prove to be a real asset to ASTL members.”
Paul qualified as a chartered accountant in 1987 with Arthur Andersen an international accounting practice. He worked on audits, management consultancy and buy out due diligence before specialising in insolvency and investigations. In 1990 he was granted an insolvency licence by ICAEW.
He worked on the Robert Maxwell private company administrations in the Middle East in the early nineties and developed strong banking relationships. In 1993 he joined up again with ex-Andersen's colleague Ric Traynor as Ric's first partner in the firm which later changed its name to Begbies Traynor. Paul acts as managing partner in the Manchester office and sits on both the firm's management and technical committees. He has a reputation as a straight-talking, honest advisor who is both technically strong and commercial.