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Insolvency Practitioners in London

 

If your company can’t afford to pay its debts, whether to creditors such as lenders or employees, it’s likely insolvent. As the director of an insolvent company, you should seek advice from an insolvency practitioner as soon as possible.

Our insolvency practitioners in London can provide the analysis and advice that you need to guide your company in the right direction to facilitate a recovery, whether it is currently insolvent or is rapidly moving towards an insolvent financial position.

  • What is Insolvency?

     

    Is your company out of cash? Companies become insolvent when they don’t have the cash to pay their creditors or when their debts exceed their assets. If your company is experiencing either of these situations, it may be insolvent.

     

    If your company is insolvent, you’re legally required to act in the interests of your company’s creditors. Our London insolvency practitioners have helped numerous other company directors in your situation, and we’re here to help you.

     

    We’re here to help your company recover

     

    Has your business received a statutory payment demand from its creditors? Are you concerned about the rate at which your company is spending its cash? If you believe your company could soon be insolvent, it’s important to seek immediate help.

     

    Even companies in the most dire financial circumstances can recover if immediate action is taken. If your company is struggling, entering into administration or using a Company Voluntary Arrangement could help it facilitate a financial recovery.

     

    Do you know which step is best for your company? Working out the right option in a time of immense stress can be difficult. Our London-based insolvency team can give you the advice, assistance and path to recovery that your business needs.

     

    Administration

     

    One of several insolvency procedures introduced as part of the Insolvency Act 1986, administration involves an insolvency practitioner being appointed as a temporary company administrator to manage your company’s affairs.

     

    As administrator, an insolvency practitioner can reorganise and restructure the way your company operates, with a final goal of facilitating a turnaround of the business to ensure creditors are paid and, if possible, that your business can continue trading.

     

    Company Voluntary Arrangement (CVA)

     

    Companies with a viable business model that’s compromised due to excessive debt and a demanding repayment schedule might be able to renegotiate their debt under a Company Voluntary Arrangement (CVA).

     

    A CVA is an arrangement between your company and its creditors that specifies how much your company will repay and the length of the repayment period. A CVA could give your company financial flexibility via reduced payments or a longer schedule.

     

    Liquidation

     

    Companies that don’t have a viable commercial future, such as companies with an excessive amount of debt and an unviable business model, can be liquidated to free up cash in order to repay, often only in part, the company’s creditors.

     

    Liquidation results in the closure of your company and the end of its trading. Due to the finality of liquidation, it’s usually pursued as a last resort by creditors seeking to secure as much of their debt as possible from a non-paying company.

     

    Contact us today

     

    Are you confused about the options available to your company? Not sure which of the available insolvency solutions is best? Contact our insolvency practitioners in London today for expert financial advice, guidance and assistance.