Business Stabilisation, Turnaround Management

Financial Restructuring, Finance Raising

Company Rescue
Industries
Formal Rescue

Formal company Rescue

If the company's financial situation has become very critical, and informal rescue is not appropriate, then a formal company rescue procedure is called for.

There has been no better time than now to attempt a formal rescue of your company. The Enterprise Act 2002 brought in a series of rescue mechanisms which are very effective at rescuing companies and setting them on the right track for a profitable and viable future. There are two principal mechanisms - The Company Voluntary Arrangement or CVA, and the Administration procedure.

In the former rescue procedure, the managers and directors remain in charge of the company and a deal is struck with the creditors which is acceptable to both sides. There is loose supervision from an Insolvency Practitioner , who monitors the situation on behalf of the company and who acts as an honest broker.

The second rescue procedure is the Administration Procedure whereby the Insolvency Practitioner takes on a more "hands on" approach, in that he is responsible for running the Company but can delegate this to managers and directors.

In the event that we have to move to a formal rescue regime, we work with a number of specially selected insolvency practitioners.

 

Contact us now to find out how we can help your business!

 

Informal Rescue
Our Approach