Does your business face liquidation or voluntary administration?
We help businesses facing liquidation or voluntary administration. We evaluate whether a pre-pack insolvency arrangement is suitable and devise a strategy to rescue businesses from a liquidation firesale. We fight to protect our clients’ rights and maximise their financial return.
Pre-pack insolvency is widely used in the UK, and is an alternative to entering voluntary administration. The future of the business is determined before the appointment of a voluntary administrator or liquidator – so it is not left to a meeting of creditors to decide.
There are two criteria for a pre-pack arrangement – the business must be insolvent and the directors must be willing to restructure the business so it can be rescued and given another chance at success.
A pre-pack arrangement is a legal response to insolvency for small- to medium-sized businesses. Under this arrangement, the business continues trading through an alternative structure. That makes it different from phoenix activity, which involves illegal asset stripping.
We use pre-pack arrangements to help our clients protect goodwill, save jobs and avoid a liquidation firesale. We take care of all expert reports, valuations, accounting reconciliations, company incorporation procedures and other requirements.
Our points of difference
- Vast experience in dealing with companies in financial distress
- Urgent focus on getting results in crisis situations
- Specialist knowledge of insolvency law and current practice
- Support services including contract preparation, debt recovery and court representation that may be necessary for a restructure to succeed
- Flexible pricing methodology