In our latest “Meet the Expert” feature, Rachel Hotham, Restructuring and Insolvency Partner, tells us about her role at Milsted Langdon, one key piece of advice to clients, and shares her love of the outdoors.

Tell us about your role

I’ve been part of Milsted Langdon’s Insolvency and Restructuring team for a long time (a long, long time).

Like many other insolvency practitioners, it was never a lifelong ambition, I originally wanted to be in the travel industry but ironically it was the accounting, economics and commerce studies at college, that I found the most interesting.

I’ve undertaken most of the roles within the department over the years and the most interesting times are when you first meet the company directors to hear about issues they are facing and then try to find the best strategy to put in place. 

The different sectors that I have been involved with range from fly ash processing to deep-sea submersibles – so it’s always interesting! 

Business development is also an important part of an insolvency practitioner’s role, it’s always interesting watching someone’s reaction when you tell them what you do.

Being part of an insolvency team requires being able to empathise one moment and then having a thick skin the next, everyone deals with stressful situations differently, and often we are the ones who get the brunt of their initial reaction.

However, it’s also extremely rewarding to receive messages of thanks from clients where we’ve helped to make a difficult situation easier for them.

What is the one piece of advice that you would give to clients?

On many occasions, individuals advise that they have been trying to deal with something on their own for so long that they have now reached the end of the road and the options available to the business have become limited.

There still seems to be a certain amount of stigma attached to asking for advice or for a second opinion on a plan, it’s disappointing and can ultimately be a bit short-sighted.  

If I had one bit of advice, it would be to seek advice as soon as possible.

Outside of work, what are your hobbies?

I’m mostly an outdoorsy person, I’d much rather go for a run outside whatever the weather, than run on a treadmill in the gym.  

That said, I do try to go to different exercise classes when I can, there’s that extra incentive to push yourself when you’re in a class and someone else works out the routine for you.

I enjoy skiing but I’m not a great lover of heights so some of the cable cars and chair lifts in the higher resorts do not make me the most relaxed person to share a chair lift with!

I also enjoy horse riding especially across Exmoor or the Mendips when I get a chance, which isn’t often, unfortunately.