When the going gets tough it’s vital that professional advice is obtained as soon as possible. The earlier we’re brought in the better the prospect of managing a Turnaround and/or Restructuring solution that will allow the business to survive and grow; avoiding Insolvency is always our first objective.
Despite the best endeavours of their trustees, charities sometimes fail for reasons beyond their control. Recent years have seen charities suffer from the impact of public spending cuts, as well as reduced donations and falls in investment income all set against increasing demands for their services.
Personal financial difficulties are often brought about by circumstances outside the individual’s control and through no fault of their own.
A members’ voluntary liquidation, or solvent liquidation, can be used to unlock capital in a company when its owners wish to retire, or where the specific purpose for which the company was formed has been completed.
Credit managers often take a negative approach when a customer fails. It’s true that, when insolvency strikes, debts are rarely paid in full.
Sadly there will be times when you have customers giving you cause for concern. You will need to review your options and make sure that you’re best placed to protect your position, whether it’s guiding your customer through a temporary cash flow problem, a refinancing exercise or asserting your security.
Creditors want to be treated fairly, and not disadvantaged by directors who ignore their statutory responsibilities or contributed to the demise of the business through negligence, misappropriation of assets or misconduct.
Our Team works with accountants, solicitors, lenders and others whose clients need restructuring or insolvency advice.