Business
Recovery and Turnaround Service
All businesses encounter health problems. These ailments
aren't always critical. They might just be a blip.
But leaving them unchecked is a risky business. The
sooner you speak to us, the more we can do to improve
your situation.
We fully recognise that business difficulties arise
from a broad range of factors which are sometime outside
of your control.
Is your business suffering as a result of any of these
types of issues?
- Loss of a significant customer
- Failure of a key supplier
- Sudden departures of key staff
- Underinvestment in the business
- Production delays or inefficiencies
- Loss of confidence from a bank
- Bad Debts
- Problematic Industry
We have extensive practical experience of working with
all parties involved in underperforming businesses. We
know the issues and concerns and our focus is how they
can be addressed to achieve the optimum solution. Our
services in this area include:
- A review of the underperforming business
- A scheme to address the underlying causes
of the underperformance
- Create and implement a formal or informal
scheme of arrangement
- Assistance in seeking additional financial
resources
- Assistance and advice with Debt Recovery
- Act as a Receiver to maximise recovery
- Act as Examiner where companies have
a realistic prospect
of survival but need a period
of protection
Liquidations
Where recovery is no longer possible or members wish
to realise their investments, we offer the necessary
advice and support needed to assist you through the process.
A liquidation may be solvent or insolvent. Liquidation
may occur following a receivership or administration,
or the company's directors or shareholders may recommend
that the company be put directly into liquidation via
a CVL or MVL, or a court can make a winding-up order
for a compulsory liquidation, on the petition of a creditor
or of the company itself.
Creditors Voluntary Liquidation (CVL)
This is defined as a liquidation which is instigated
by the members of the company at the request of the
directors. The company accepts that it is in an insolvent
position (unable to pay its debts as they fall due)
and takes the necessary steps to liquidate the company
and conclude its affairs through the appointment of
a liquidator.
Members Voluntary Liquidation (MVL)
The winding up of solvent companies often forms part
of group restructuring procedures.
Creditors are quickly repaid, contingent liabilities
can be eliminated and shareholders' funds realised. The
company's tax position can be critical and we can advise
on the alternatives of liquidation or dissolution.
Compulsory Liquidation
This is where the liquidation of a company is ordered
by the Court on the petition of a creditor, shareholder
or the company itself.
For
all of the above the services we can provide include:
- Advising directors of their statutory
duties both
pre and post liquidation
- Assistance in the preparation of statutory
documents
- Assist directors at creditors meetings
- Accounting appointment as Liquidator
and dealing with the realisation of assets, the payment
of creditors (where possible) and the finalising of
the company's accounts
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