You may face difficult choices, which need to be made quickly, when events don’t unfold as expected for your business, but we can help provide certainty and a clear course of action through a contingency plan.
At these times directors should also be mindful of their duties to creditors. If implemented early, taking such steps will help directors evidence that they acted appropriately to protect value for the stakeholders.
We provide a clear course of action during stressful periods.
Our solutions are tailored to your unique circumstances, your business and the sector you operate in.
We undertake multi-location contingency planning and insolvency appointments in the UK, Europe and internationally.
Our 58 partners and directors, and over 200 restructuring and insolvency professionals undertake multi-location contingency planning and insolvency appointments in the UK, Europe and internationally.
We work with you to:
An Administration is a formal corporate insolvency process triggered by the company, the directors or a creditor which aims to rescue a business when the company can no longer trade in its current form. If the business cannot be rescued, in part or as a whole, the Insolvency Practitioner focuses on maximising the return to all creditors or on realising assets for the benefit of secured and preferential creditors.
A pre-pack administration is when the business and assets of a company, or the majority thereof, are sold by the Administrators immediately following their appointment. This can only happen when the proposed administrator is satisfied that the sale represents the best outcome for the company’s creditors, normally having carried out an accelerated marketing process prior to the administration appointment.
A CVL is an insolvency process whereby the directors, with the agreement of the shareholders, bring about the cessation of the business. An insolvency practitioner is appointed as the liquidator to oversee the sale of assets and distribution of proceeds to creditors according to legal priority.
Introduced by legislation in 2020, the Restructuring Plan is a court supervised restructuring process which enables companies in financial difficulties to come to an arrangement with its creditors and shareholders to secure the future of the company. If approved by the Courts, the Plan can be imposed on a dissenting class of creditors using a “cross-class cram-down”.
A CVA is an insolvency process which allows a company to come to a formal agreement with its creditors in order to ensure its survival. The CVA is agreed with the creditors and sets out how their debts are to be dealt with in a fair and transparent way over an agreed period. At least 75% of creditors need to agree the proposal for it to proceed.
