Rescue and Recovery
If your business is struggling, liquidation need not be the inevitable outcome. Your business may benefit from any of a number of rescue and turnaround options that we would be pleased to discuss with you.
Members Voluntary Liquidation (MVL)
We can help you consider this as part of Group Tax Planning or to permit a highly Tax efficient return of capital to Shareholders of a solvent Company where the distributable reserves are in excess of £25,000.
Creditors Voluntary Liquidation (CVL)
This is instigated by the Directors of a Company to effect an orderly wind down and may include the sale or transfer of the business and assets to a new trading entity.
Company Voluntary Arrangement (CVA)
This option permits the re-organisation and restructuring of corporate debt and can allow the Company to continue to operate whilst maintaining a structured repayment plan with its creditors.
This option is normally available to all stakeholders who have a floating charge registered before 15 September 2003. It enables stakeholders to appoint an Administrative Receiver to take control of the business and realise the assets for the benefit of the charge holder.
The option of an Administration is available to the Directors/Shareholders, its creditors or a floating chargeholder to appoint an Insolvency Practitioner to quickly take control of a Company which is under immediate pressure from creditors or where the assets are at risk.
A Compulsory Liquidation results from a winding up order being made from the Court. Although the Official Receiver is initially appointed as Liquidator, one of our directors can be appointed in his place by the Court, the Secretary of State or by creditors.
Fixed Charge / Property Receivership
We can act on behalf of private or Institutional lenders to maximise recoveries through the management and realisation of property investment portfolios.
Partnership and Individual Voluntary Arrangements (PVAs and IVAs)
We can also undertake PVAs and business related IVAs. These mechanisms enable unincorporated businesses to restructure and repay their debts, not necessarily in full, without the consequences of Bankruptcy. Whilst our focus is primarily on business related arrangements, we are happy to assist individuals experiencing purely consumer credit problems with a referral to the StepChange Debt Charity who offer a number of solutions including consumer credit IVAs and Debt Management Plans.
Trustee in Bankruptcy (Including Deceased Insolvent Estates)
A Bankruptcy results from a Bankruptcy Order being made by the Court. Although the Official Receiver is initially appointed, one of our Directors can be appointed as Trustee by the Court, the Secretary of State or by creditors. We can also be appointed as Trustee in cases where someone is deceased and their estate is insolvent.