Informal Arrangements

 

Our team, drawn from a variety of backgrounds, has significant experience in handling and finding solutions for companies in financial distress.  As a result we are ideally placed to provide various informal services, including:

 

Corporate Debt Management - An informal repayment plan with creditors

 

We will negotiate an informal repayment plan with creditors, giving you much needed time and breathing space to get the company’s cash flow back on track.  We will deal with your creditors directly, removing day to day pressure whilst implementing a repayment schedule based on affordability, thus avoiding further financial distress.  We will seek to freeze interest on aged debts in an effort to minimise overall costs.

 

Debt negotiation / settlement - An offer which can appeal on a commercial level to both parties

 

Our expertise and experience enables us to structure an offer which can appeal on a commercial level to both debtor and creditor.  If you are looking to make an offer of full and final settlement, we will negotiate a reduced sum on your behalf.

 

Creditor liaison - Problems with one particular creditor, such as HMRC?

 

If your company is experiencing creditor pressure on a particular account, we will, following your instruction, act as advisor and intermediary in order to negotiate an acceptable resolution directly with the creditor.  Once agreed, we can remain in the background and act as a direct point of contact on the account for as long as needed.

 

We are not middle men, we are qualified professionals and therfore in addition to informal options, if needed our experienced team of in house practitioners can provide the following formal solutions:

 

Formal Solutions

 

Administration - Protect your company and evaluate the options 

 

• Administration can stop bailiffs, landlords, banks or other duress creditors.

 

• Administration can provide time for a buyer to be found.

 

• Administration may be the best way to save some or all of the business.

 

• In many cases the management purchase the business.

 

In most cases it is either the company directors or the bank which instigates the process of Administration.  This is simply a matter of filing documents in Court.

 

Company Voluntary Arrangement (CVA)  - A formal, affordable payment plan in settlement of unsecured company debt

 

Your company assets are protected and you will save time, money and avoid distraction with one affordable monthly payment based on the business’s available income. This enables the Directors to focus on developing and effectively managing the business.

 

The Arrangement lasts for a set time period (typically no more than 60 months).  At the end of this period there is no more to pay, the balance of your unsecured debt being legally written off. 

 

Creditor’s Voluntary Liquidation (CVL) - The formal closure of an insolvent company

 

A CVL is a process by which the shareholder and creditors of a limited company appoint a licensed Insolvency Practitioner (IP) as Liquidator to wind up the company’s affairs.  A CVL is a final solution to a company’s serious financial problems.