Corporate Recovery & Insolvency
Challenging economic times inevitably leads to greater risk of companies encountering financial difficulties. At times of often intense pressure for business leaders, our member firms are able to provide clients with the assurance of dealing with approachable experts with the commercial awareness, practical skills and understanding to help navigate the best course of action. Experience of business recovery across a wide variety of industries and circumstances enables specialists to provide an early assessment of potential solutions to your problems, whether a sudden reduction in cash flow or an unpaid debt from a major customer.
The members of the team have experienced assignments with several major banks and financial institutions.
Most receivership cases are appointments from banks that are debenture holders having a charge on the assets of the respective companies to whom they have extended their loan facilities. The team has also managed several of the companies placed under its care where appointment was made as Receiver and Manager. The types of business which the team has managed as Receiver and Manager includes chemicals, dye and fertiliser manufacturers, paint manufacturers, timber processing factory, a cinema, copper wire manufacturers, disposable syringe manufacturers, palm oil refinery, printing press etc to name a few.
The members of the team have also handled several cases of company liquidations. Requests are sometimes made by company directors to have their companies liquidated as they see no purpose in continuing the business further. In some cases these are undertaken for creditors when a company is in a state of financial crisis. A controlled liquidation can often result in businesses being saved for the benefit of proprietors, creditors and staff.