Cork Gully
Encyclopedia
Cork Gully is a British insolvency practice.
W. H. Cork and Harry Gully established the firm in London
as WH Cork Gully in 1935. After W. H. Cork's death and a period of wartime service, his son Kenneth Cork
succeeded him as senior partner. He went on to expand the firm as a specialist insolvency practice, gaining pre-eminence in its field by the 1970s.
Sir Kenneth Cork (as he later became known) chaired the Cork Committee, whose report issued in 1982 is widely referred to as the Cork Report
which led to the passing of the Insolvency Act 1986
. He also served as Lord Mayor of London
in 1978–79.
Sir Kenneth's son Sir Roger Cork followed in his footsteps, both as a partner in Cork Gully and as Lord Mayor of London (1996–97).
In 1980 the business became part of Coopers & Lybrand and eventually lost its separate identity when Coopers and Lybrand itself merged with Price Waterhouse.
The firm's notable assignments included liquidations of Barlow Clowes and car maker De Lorean.
In 2010, Stephen Cork re-established the brand as a new insolvency and restructuring firm in Mayfair. He represents the fourth generation of his family in the field, having headed a restructuring team at Smith and Williamson
.
W. H. Cork and Harry Gully established the firm in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
as WH Cork Gully in 1935. After W. H. Cork's death and a period of wartime service, his son Kenneth Cork
Kenneth Cork
Sir Kenneth Russell Cork GBE was a British accountant and insolvency expert, and the Lord Mayor of London from 1978-1979. He is best known for chairing a major review of UK insolvency law .He was a partner in Cork Gully, a well-known firm of insolvency...
succeeded him as senior partner. He went on to expand the firm as a specialist insolvency practice, gaining pre-eminence in its field by the 1970s.
Sir Kenneth Cork (as he later became known) chaired the Cork Committee, whose report issued in 1982 is widely referred to as the Cork Report
Report of the Review Committee on Insolvency Law and Practice
Report of the Review Committee on Insolvency Law and Practice Cmnd 8558, also known as the "Cork Report" was an investigation and set of recommendations on modernisation and reform of UK insolvency law. It was chaired by Kenneth Cork and was commissioned by the Labour government in 1977...
which led to the passing of the Insolvency Act 1986
Insolvency Act 1986
The Insolvency Act 1986 is an Act of the Parliament of the United Kingdom that provides the legal platform for all matters relating to personal and corporate insolvency in the UK.-History:...
. He also served as Lord Mayor of London
Lord Mayor of London
The Right Honourable Lord Mayor of London is the legal title for the Mayor of the City of London Corporation. The Lord Mayor of London is to be distinguished from the Mayor of London; the former is an officer only of the City of London, while the Mayor of London is the Mayor of Greater London and...
in 1978–79.
Sir Kenneth's son Sir Roger Cork followed in his footsteps, both as a partner in Cork Gully and as Lord Mayor of London (1996–97).
In 1980 the business became part of Coopers & Lybrand and eventually lost its separate identity when Coopers and Lybrand itself merged with Price Waterhouse.
The firm's notable assignments included liquidations of Barlow Clowes and car maker De Lorean.
In 2010, Stephen Cork re-established the brand as a new insolvency and restructuring firm in Mayfair. He represents the fourth generation of his family in the field, having headed a restructuring team at Smith and Williamson
Smith and Williamson
Smith & Williamson, founded in 1881, is the eighth largest firm of accountants in the UK and its investment management business has around £8.3 billion funds under management and advice ....
.