Other Services
Services for Professional Advisors
As a Company which specialises in one particular field we can sympathise with fellow professionals whose clients expect them to be able to advise on a far wider range of services and obviously from time to time those fellow professionals will not have the required knowledge to be of any meaningful assistance to their clients.
We are happy to offer our services at no cost to fellow professionals requiring outline information on various aspects of corporate and personal insolvency.
The enquiry may well be on technical pre insolvency matters or could simply be seeking outline assistance on insolvency administrative procedures. All enquiries from fellow professionals requiring assistance are dealt with confidentially and professionally and can either take the form of a simple telephone conversation followed up by written confirmation or otherwise or may result in an invitation to attend a joint meeting between relevant clients and their advisers.
In these litigious times it is not good practice to hurriedly make reference to potentially outdated reference books on technical insolvency matters nor is it good business practice to simply tell clients that you do not know the answer to their questions. The solution is simply to involve those professionals who have the knowledge on the subject at hand and in the matter of insolvency we are here to be of assistance.
Insolvency Protection Planning
The financial effects of insolvency of a company or an individual is not something which that company or individual can insure themselves against but there are often steps which can be taken to protect against the worst implications of formal insolvency for the benefit of group companies or family members.
The secret to good quality protection is planning to ensure that a Company or an individual’s estate is legally organised such that the potential future insolvency of one branch does not lead to the insolvency of the entire tree. With Companies, protection can be obtained through the early establishment of appropriate group structures whereas with individuals it can be obtained by a timeous transfer of assets at a time of solvency.
It is too late to consider the re-organisation of the assets of a company or an individual at a time of insolvency or when the transfer of those assets would create insolvency.
We are able to advise both Directors and individuals on steps that can legally be taken to protect the company or family from the full consequences of future insolvency. Such an exercise is akin to a corporate or personal insolvency health check and is something that should be considered from time to time in the same manner as insurable events.
Services for Directors
Directors are of course responsible for the day to day management of the Company and must ensure that they are fully aware of the financial position of the Compant at any given time. When faced with a possible insolvent position, Directors face the potential difficulty that they may be found liable for sums if they are found to be culpable or negligent in their management of the Company.
We are well placed to advise Directors in the following circumstances for example ;
Where a general “health check” is required to ensure that they are able to plan for worst case scenarios
When it appears that the Company may be facing financial difficulties and requires to consider insolvency
When the Company is already in a formal insolvency arrangement and the Directors require assistance in dealing with the Insolvency Practitioner appointed.
Creditor Services
As insolvency specialists we are of course uniquely placed to assist creditors in advising on debt recovery problems or representing them - to be finalised