Banks: Ethical or Criminal event to take place in Cork with guest speaker Nick Leeson
As the government’s new system for dealing with debt and insolvencies begins to take effect across Ireland, original ‘rogue trader’ turned business advisor Nick Leeson is coming to Cork to highlight some of the steps individuals can take to ensure they don’t get overwhelmed by the pressure of dealing with creditors.
Leeson, who is also working to highlight evidence suggesting banks are not always exactly working in the interest of their customers, is speaking at the Banks: Ethical or Criminal event, sponsored by GDP Partnership.
Taking place on 25th March at 7.30pm in the Clarion Hotel, it is designed to open up discussions around banking policy and debt and help empower individuals and business owners to take control of their financial situation.
Leeson said, “I hope that this evening will encourage people to take another and detailed look at their finances and consider their options. One of the biggest issues facing us all today is debt – whether that’s the banks, our companies or indeed our own as individuals.
“We need to start talking openly about debt and how in some cases banks are mismanaging it. Post-crash and bailout banks needed to address their debt position, but killing off viable business was never part of the agreed plan when the government bailed the banks out.
“We have seen from the Tomlinson Report, which dealt with Royal Bank of Scotland – parent company of Ulster Bank, that some of the banks’ strategies for improving their financial performances are impacting on good and viable businesses and that they are manipulating the businesses’ financial positions for their own gain.”
Nick Leeson, whose risk-taking caused the collapse of Barings bank in 1995, has joined the firm, which specialises in bringing solutions to banks on behalf of borrowers in distress. He holds the role of Principal in the Dublin office of GDP, which is made up of a team of property, accountancy and banking professionals led by business partner Conor Devine and James Gibbons.
Conor Devine, GDP Partnership said, “Having met with Lawrence Tomlinson who kicked off our series of events in Belfast and highlighted some of the issues faced by businesses across the UK as a result of actions within RBS, we are keen to engage with individuals across Ireland to help them understand their options.
“This is about starting a conversation across Ireland about debt and around banks and banking policy. We need to educate people about the steps, which can be taken to tackle their debt in an active and positive manner.
“Unfortunately too many people don’t realise that bankruptcy is not the only option available to them and at GDP we are working with a vast range of people to mediate on their behalf and reach an agreement that works for both the institutions and the borrowers.
GDP Partnership offers bank mediation, restructuring, asset management, corporate finance and real estate advice.
“We firmly believe that we can help and will be hosting another free Banks – Ethical or Criminal event on 26th March in Killarney at the Killarney Plaza Hotel at 1pm. Booking is essential so please get in touch to secure your place and start taking control of your financial future.”
It is essential that places are booked – so if you wish to attend please contact Katie at GDP Partnership asap to secure a seat please email:katie@gdpni.com.
