Published: 5th February 2009
Lawyers, accountants and financiers were among the delegates at the event which looked at the challenges currently facing football clubs and tactics employed to help them play to their strengths.
“Football clubs are not immune to the effects of the credit squeeze, with diminishing gate revenues, the falling exchange rate, reduced corporate income and difficulties in refinancing high levels of debt increasing the risk of casualties by the end of the season,” commented Julie Palmer, seminar co-leader and partner at Begbies Traynor’s Salisbury office.
“Staying ahead of the game is the most important thing for any business in a downturn – a fact reflected in the strong turnout of professional colleagues from London and towns and cities across the south.”
Gerald qualified in 1971 as an ACA with Peat Marwick Mitchell and subsequently joined Bartfields Chartered Accountants where he began to specialise in Insolvency. He was one of the first licence holders in 1986 when he specialised in CVAs before they became more popular. Gerald has worked on numerous successful cases including Krasner v Dennison, for which he won in the Court Of Appeal and as a consequence changed the treatment of a bankrupts' pensions.
In 2004 he became chairman and part owner of Leeds United AFC which had debts of circa £103 million. These were reduced to £24 million before the club was sold the following year. In 2007 he sold the insolvency division of Bartfields to Begbies Traynor and became a partner at the firm.
Gerald has lectured both nationally and internationally to fellow insolvency practitioners and other professionals, and has also been involved in committees for both R3 and Insol.