Restructuring and special situations partner Ross McClymont has been announced as president of the organisation.
The Australian Restructuring Insolvency and Turnaround Association (ARITA) is the professional body for restructuring and insolvency practitioners in Australia and for those working in the field of business reconstruction and corporate and personal insolvency.
Mr McClymont’s new role sees him become the first lawyer to hold this position in the organisation’s history.
“Ross is an accomplished business leader and a highly experienced restructuring and insolvency legal professional. Ross is a long-standing member of our board, and has already made a significant contribution to our organisation,” said ARITA chief executive office John Winter.
“As president we are confident that he will continue to provide strong leadership to ARITA and the profession, and I look forward to working with him in meeting the challenges and opportunities that lie ahead.”
As a partner of Ashurst and managing partner of the firm’s Melbourne office, Mr McClymont advises financiers, directors and insolvency administrators on all aspects of insolvency law.
According to a statement from the firm, he has over 25 years’ experience in his field and specialises in restructuring, insolvency, distressed investment, debt trading and debt recovery matters.
Commenting on his new role with the ARITA, Mr McClymont said: “I am delighted to be the first lawyer appointed as president. I look forward to continuing to work with the board and our members to further ARITA’s mission of supporting restructuring and insolvency professionals and to promote the ideals of the profession to the public at large”.
“These are testing times for the profession as we face significant ongoing legislative change in our space, together with the impending implementation of the ASIC user-pays model for our members,” he said.
“ARITA will continue to be at the forefront of the debate in Australia in terms of achieving world’s best practice in our insolvency and reconstruction laws and processes, and to articulate the important role our members play in the broader economy.”