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Business Insolvency

Understanding Insolvency R3 Download PDF

Business Insolvency

We are able to advise on all matters where insolvency may be a consideration. Advice is confidential and in the first instance, free of charge.

We aim to provide the full range of Insolvency and Rescue procedures to our company clients.

Where the business is a Sole Tradership or Partnership, we can protect the trading position of the business by way of an Interim Order (Sole Tradership) or Administration Order (Partnership). We can then prepare and implement an Individual Voluntary Arrangement (IVA) or Partnership Voluntary Arrangement (PVA) to ensure a satisfactory settlement with creditors and the continued survival of business.

Where the business is a limited company, we are able to implement a number of rescue procedures, including Administration Orders and Company Voluntary Arrangements, where a viable business is involved and creditors are agreeable.

If the company can no longer be rescued, we can implement a Creditors' Voluntary Liquidation, facilitating the sale of assets at their optimum value and often allowing the disposal of assets on a going concern basis.

We can act as liquidators in a Members Voluntary Liquidation where the company is solvent but needs to be wound up formally, whether for tax reasons or otherwise.

Whatever procedure is appropriate, it is essential that clients take advice early and act upon it.

Our advice includes the implications of all insolvency procedures for Directors, Creditors or others associated with the company or affected by it financial position.