Business Stabilisation, Turnaround Management
Financial Restructuring, Finance Raising
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 ,
the situation on behalf of the company and who
acts as an honest broker.
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!