2016 in review: John Harlow, Harlow Insolvency
John Harlow of Leicester-based Harlow Insolvency runs the through the highlights – and lowlights – of 2016.
What has been your highlight of the year?
It has been a strange year. Whilst it feels like only yesterday I was Christmas shopping and panicking over presents, turkeys, etcetera: quite a lot actually happened, much of which was totally unexpected; Leicester City’s triumph, Brexit and Trump to highlight just three.
Work-wise I struggle to find any highlights, as the insolvency market place was as flat as it has been for the past few years. To many this may seem like a good thing, but the truth is, there are a significant amount of businesses just surviving due to low interest rates and continued creditor leniency. It’s not just families on low incomes who fit the soubriquet “JAMS”. Next year will be interesting as the Brexit arguments develop and speculation abounds over interest rates.
So highlights for me are probably the resurgence of the England rugby team, unbeaten in 2016 after the debacle of the World Cup and a fantastic win for Ben Ainslie and Team BAR Land-Rover in the Americas Cup preliminary series.
And your lowlight?
The lowlight has probably been the continued flatness in the market place mentioned above. Coupled with this has been the fact that whatever work has been around has been difficult and full of problems. he sporting lowlight has to be when I turned on my computer whilst writing this, to find that the England cricket team had capitulated in the final test in India, losing the last six wickets for just 15 runs!
How do you think that 2016 will be remembered?
I think most people will remember 2016 as the year of Brexit and Trump. Both of these could have far-reaching consequences, not necessarily good ones! The stunning Olympics will remain in the memory for some time, as will the achievements of Andy Murray!
Hero of the Year (business or otherwise)?
For me, the hero of the year is Ben Ainslie. I was lucky enough to be in Portsmouth during the summer to watch the Americas Cup World Series as a birthday treat. It was an exciting spectacle with the British team winning the regatta by the slimmest of margins. They went on to finish the series in Japan as overall winners and will take important bonus points into next year’s main event.
And villain?
Well, among many candidates, I’m going to name the Government, for ending the insolvency exemption on the Legal Aid, Sentencing and Punishment of Offenders Act in April. This has effectively removed the ability for an office holder to use conditional fee agreements, coupled with after the event insurance from the insolvency practitioner’s tool box. This has made the pursuit of delinquent directors and the recovery of funds far more difficult, if not impossible, where there is a lack of money in the insolvent estate.
What’s your New Year’s Resolution?
Firstly, to clear out the garage and remove the junk from the spare room! Secondly, to find more time to go sailing, although this may be at odds with the first resolution!
