There are many issues that a Board will have to deal with when facing the fact that their Company may be insolvent or about to become insolvent. A director’s numerous duties to the Company and its various stakeholders may not be upper most in a director’s mind when trying to save a business from insolvency. However there are significant pitfalls should a Board not take early insolvency advice on proposed transactions and future trading when the Company is insolvent or in a dangerous financial position. We have advised many companies through these pitfalls and time and time again taking early insolvency advice is the key to ensuring that the business and the directors are protected.
Negotiating with Lenders
A number of our team have spent time on secondment with various financiers and have a unique insight into how to conduct a successful negotiation whether that’s rescheduling debt repayments, achieving a debt reduction or resetting financial covenants. Each negotiation has its own unique set of circumstances and our team is well versed in adapting to different scenarios.
Independent Business Reviews
We carry out business reviews for a variety of stakeholders and work in collaboration with the businesses concerned. Whilst traditional reviews show you where a business has been and where it is now, we focus on the future and where we can add immediate and long term value.
We devise both insolvency and non-insolvency contingency plans in the event that expected plan becomes unachievable.
Alternative dispute resolution is being increasingly encouraged by the Courts and used by business. Our Forensic Team has considerable knowledge and experience in mediation and arbitration processes and we have helped to achieve speedy and cost effective results across a varied range of cases.
Interim and Turnaround Management
We have a network of interim and turnaround managers across a wide range of industries that we can call on to add value to any assignment.