Credit managers often take a negative approach when a customer fails. It’s true that, when insolvency strikes, debts are rarely paid in full.
Dividends in bankruptcies and liquidations are notoriously low, with unsecured creditors at the back of a queue which may be very long. Our Team can advise on the best way to engage with the process, protect your position and improve your financial outcome.
Our Team provides support, advice and training to creditors and creditor groups. Whether or not a formal insolvency process is underway we can support you to achieve the best outcome in the circumstances.
We recognise that your sales ledger is one of your most important assets. Our aim is to help you manage that asset so as to minimise losses. Our services include:
Advising on debt recovery problems, including working with solicitors to establish the best choice of enforcement action in the circumstances, providing free, in-house training on insolvency and insolvency-related subjects.
Attending meetings between creditor and debtor to discuss settlement proposals and dealing with insolvency paperwork on your behalf.
Assisting the credit manager in dealing with an insolvency practitioner, including helping to resolve disputes.
Reviewing proposals for voluntary arrangements or informal schemes, often suggesting ways in which dividend prospects may be enhanced.
Attending creditors’ meetings and providing an informative report, including an assessment of dividend prospects.
Represent a creditor’s interests on a committee of creditors.
Taking formal appointments as trustee in bankruptcy of an individual, liquidator, receiver or administrator of a company or supervisor of a voluntary arrangement, with our fees met from the assets of the debtor.
The tri group approach
Calling on the services of a firm like ours inevitably means that there are serious problems to address, usually urgently. In summary:
We are committed to helping businesses with financial pressures to overcome those problems; we regard winding up as the last resort.
We’ll explain the process using clear, jargon-free language, and set out the issues that the client will need to address. We’ll support the client throughout the process.
An initial meeting will always be without charge or obligation. We do not charge clients for the privilege of explaining their problems to us.
Professionalism, Integrity and Compassion matter to us. We will always be driven by the need to provide the best possible advice, not to maximise our fees. We are interested in building long-term relationships with professional advisers.
When formal insolvency is unavoidable, we will help select the most appropriate procedure for the particular circumstances so as to achieve the most beneficial outcome for creditors, guarantors and other stakeholders.
We’ll spend time listening carefully and making sure that we fully understand the problems before we analyse the options.