Richard Cacho is a rare breed within Insolvency. In a career spanning over thirty years, Richard has qualified as a chartered accountant, been employed as a finance director, a representative of the DTI and practised as an Insolvency Practitioner. He has practised in three separate countries across two continents and continues to develop his cross-border expertise; specialising in taking COMI appointments for individuals and corporations across the EU. With such a wealth of experience, he is now the number one Insolvency Practitioner by appointment count, for corporate insolvencies in Norfolk.
Originally from Australia, with dual Spanish and Australian heritage, Richard started his career in the late nineteen-eighties in Perth. He initially qualified and worked at “EY”, known then as Ernst & Whinney one of the “big eight” accounting firms. These first five years spent in Audit and Tax at Ernst & Whinney, provided Richard with a fundamental understanding of business accounting which has provided an excellent grounding for his work as an Insolvency Practitioner, where he began operating at a managerial level in nineteen ninety.
Richard explains during our interview,
“I believe in solid, extended training. Discipline in training and accounting knowledge counts for a lot.”
After several years working in the local area, Richard set up his own independent practice, RCM Advisory. Having previously owned and operated his own insolvency practices in Sydney and Perth, and later in London, Richard determined that he was able to add significant value to his partners and clients with his professional and methodical approach. In the summer of twenty seventeen, he opened his Norwich office and began taking appointments.
In addition to in-depth training, Richard has always valued transparency and personal accountability within Insolvency practice. During his time working for the Disqualifications Unit at the Department for Trade and Industry in nineteen ninety-five, he was responsible for detecting and taking action against individual company directors starting phoenix companies illegally. This gave him the opportunity to understand Insolvency from the perspective of the DTI and further confirmed for him the importance of professional best practice and accountability. He is proud to be ICAEW accredited and audited. As Richard himself states,
“ As an individual practitioner, at my own practice, I take each job very seriously and am personally accountable at every stage. I think a background as a chartered accountant provides you with the bedrock that you need to be a valued insolvency practitioner”
Through the years Richard has gained experience working as a finance director for a large spatial imaging company, where he guided the company through its acquisition by a large multinational. This has provided Richard with valuable experience understanding the challenges that a large company faces.
Being bilingual and having a wealth of legal experience in addition to traveling and practising internationally, Richard has been in an ideal position to develop a specialism in European COMI-shift cases. Within COMI-shift cases, clients operate throughout the EU but are legally based in the UK and therefore can undergo corporate or personal insolvency under UK law. Within the last five years, he has worked on both personal and corporate insolvencies for clients operating in Germany and Spain.
As we set up our award photos by the picturesque River Wensum, just outside the office, the sun suddenly reveals itself. Bathing our photos in a warm natural light it cast a good omen for Richard and the practice. Already the number one practitioner for Corporate Insolvency appointments in Norfolk, he is looking forward to continuing on his international success right here in the heart of Norwich in twenty eighteen.