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Corporate Recovery : services |
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Services
We draw on a wide range of skills and expertise to provide a service tailored to suit your needs.
Business reviews and investigations
Most major financial and lending institutions recognise the importance of an independent review of the financial prospects of both prospective and existing clients before committing further resources. And, business owners and directors sometimes require specialist assistance when significant variations arise in expected profits or losses. We provide the necessary expertise, sensitivity and discretion to advise in these situations.
Corporate turnaround
Directors of companies experiencing poor results or difficult trading conditions come to us for advice on their legal responsibilities and on how to implement practical plans to improve business performance, including turnover enhancement and cost management to ease cashflow pressure. We advise lenders too, providing strategic assessments and practical guidance on strategies to maximise recoveries.
Administration
Administration can enable a company and its creditors to rescue its financial position and continue as a going concern. If rescue is not possible, administration will often achieve a better realisation of assets than liquidation, which is why the administration process is also used by banks and other secured creditors to recover their debts.
An administration is usually instigated either by the directors or a secured creditor. In either case, the directors or secured creditor will appoint a licensed insolvency practitioner who will take control of the business and make the decisions necessary to rescue the business and/or maximise the return to creditors.
Voluntary arrangements
Voluntary arrangements provide a realistic alternative to bankruptcy or liquidation, while providing creditors with the assurance that a licensed insolvency practitioner will oversee every aspect of the process. An additional benefit is the potential protection of the court from creditors whilst the proposals are considered.
Receiverships
We provide banks, financial institutions and chargeholders with the experience required to properly maximise the realisation of secured assets while maintaining a professional approach to the continuing trade. We can call on resources and experience not only throughout the UK, but also, where required, the rest of the world.
In addition to the usual administrative and fixed charge receiverships, we are recognised for our expertise in Court receiverships, both in civil disputes and criminal confiscation.
Members' voluntary liquidations
The member's voluntary liquidation process is relatively simple, but there are significant risks for directors as a statutory declaration of solvency is required.
We provide a fast and efficient service to company directors and shareholders for the winding up of solvent companies. However, proper advice and planning is a necessity to avoid the personal risks that impact on directors.
Creditors' voluntary liquidations
In some instances, there is no real alternative, other than to take the necessary steps to place a company into insolvent liquidation. For companies with sufficient assets to meet the costs of liquidation, a creditors voluntary' liquidation is the most appropriate route.
We provide directors and shareholders with comprehensive advice and assistance to guide them through each stage of the process. We understand how stressful creditors' voluntary liquidations can be. Directors need the advice and support of experienced insolvency practitioners who can act with sensitivity.
Compulsory liquidations
Compulsory liquidations occur when a company is unable or refuses to pay its debts. In general, a creditor will apply to the Court for a winding up order. Following the granting of a winding up order, a liquidator can be appointed either by the Secretary of State or at a meeting of creditors with a view to realising the assets of the company and making a distribution to creditors.
As a creditor, you need to ensure that you appoint the right liquidator, one with the skills and determination to maximise the realisation of assets by taking legal action, when appropriate, and adopting the right forensic processes to trace assets.
Representation at creditors' meetings
We offer a free service for representation at creditors' meetings which includes any type of insolvency process - voluntary arrangement, liquidation, bankruptcy etc. Queries may be raised on behalf of a creditor at the meeting or questions asked of the directors on specific areas of the business. We can accompany a creditor to the meeting to provide insolvency advice or technical backup.
For further information, please contact your local Moore Stephens office.
Corporate Recovery Home Page
Glossary of terms
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