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Commercial support for insolvency practitioners
Insolvency practitioners are often approached for advice by company directors but they have to act in the interests of the creditors if they are to ultimately be appointed. Our team works with the directors or shareholders to smooth the path of the liquidation or administration. We can normally respond and provide initial reports within as little as 48 hours.

"Pre-packs"
The service is aimed at the shareholders and directors of companies where funding has been obtained for the directors to purchase the goodwill of an insolvent business. Where funding has not been arranged we can assist with seeking the finance required. We can also set up the new business and establish a new accounting sytem and compliance with HMRC as well as negotiate the acquisition of financed assets (please see our case study)

Statement of affairs
The key personnel of insolvent businesses may not have the expertise to prepare a staement of affairs and seek the help of the Insolvency Practitioner who will try to help but needs to be aware of avoiding any conflicts of interest. The insolvency may be more complex than it initially seems if such matters as overdrawn directors loan accounts, personal guarantees other guarantees come to light. Our team carries out initial due diligence to gather all the relevant information, enabling the IP and the directors to plan accordingly, whilst ensuring the maximum return to creditors.

Setting up "NewCo"
We provide all of the services needed to establish accounting and financial controls including budgeting, accounting, VAT and payroll as well as assisting with negotiating with suppliers for credit accounts and negotiating with trade insurers where appropriate. It is a complete managed service.

Who can benefit?
  • Insolvency practitioners
  • Companies, business angels or individuals buying distressed businesses

    . Please contact us if you would like more information.

     



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