Many world events happening right now can seriously influence how a business performs and, sometimes, falling behind with your creditors, or being insolvent, can't be helped.
Whatever your situation, it’s essential to seek the advice of a professional insolvency service, as it could be everything you need to save your business. Here's how our insolvency services and expert insolvency practitioners can help.
Directors who are concerned about the financial position of their company must consider their actions carefully and take specialist advice.
We offer business recovery and formal insolvency options to companies who find themselves in difficulties or are simply looking to restructure or reorganise their current business.
The available options range from formal procedures such as Administrations and Company Voluntary Arrangements to informal arrangements and refinancing.
Where a rescue of the business is simply not viable we can then provide a swift, professional and sympathetic close down of the business using a formal insolvency process such as a Creditors Voluntary Liquidation.
We offer a restructuring service to small and large companies alike, whether it be the removal of the redundant subsidiaries of a large plc or the reorganisation of a SME business.
Our first priority with our insolvency service is to protect your business from liquidation, both voluntary or compulsory. Where possible, we'll restructure your finances and remove redundant subsidiaries, and avoid liquidation through other means, such as informal agreements, administrative receivership, and Company Voluntary Arrangements (CVAs).
If salvaging your business isn't possible, our insolvency service can professionally and sympathetically liquidate your company, helping to realise and distribute assets to your creditors.
There are a number of ways that individuals getting into financial difficulty may seek to resolve their financial position.
In relation to personal insolvency (be it as a sole trader or in a partnership), where bankruptcy is unavoidable we will explain the duties of a bankrupt but it may be possible to avoid bankruptcy by way of an individual voluntary arrangement. We can arrange a members’ voluntary liquidation where the company is solvent to allow for an early distribution to creditors.
We can also act as administrative receiver for debenture holders who wish to place a company into administrative receivership if they are experiencing financial problems with a debtor company.
Whether you're a sole trader or in a partnership, our insolvency service will work to protect your business from bankruptcy. This will be through insolvency-practitioner services like Administration Orders, Debt Relief Orders (DROs), and Individual Voluntary Arrangements (IVAs).
If that's not possible, and your business has enough assets, we can arrange for them to be liquidated and distributed among your creditors.
Cash flow is imperative to creating financial growth, development and survival. Slow paying debtors hinder this.
Oury Clark is a firm of Chartered Accountants with offices in and around London. We are ideally placed to attend to the needs of creditors in and around the South East.
We will attend and report back on creditors’ meetings for any creditor who wishes to ensure that their interests are looked after.
Often recoveries result from setting aside transactions undertaken by parties controlling the assets such as Transactions at an Undervalue, Preferences, Transactions Defrauding Creditors, which are not in the best interests of creditors. We would additionally look for hidden assets, antecedent transactions, wrongful or fraudulent trading and various forms of misfeasance or breaches of duty to see if further recoveries were possible.
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