Home » Insolvency Advice

Insolvency Advice

There will be occasions when it is not possible to rescue a company from insolvency without the use of one or more of the rescue options provided by the Insolvency Act 1986.

Find out more about Insolvency here »

These procedures may be regarded as routes for business recovery, either within the existing corporate structure or via a sale to a new corporate entity.

We can offer insolvency advice on which of the procedures is appropriate and by initiating a dialogue with the relevant stakeholders (i.e. banks, creditors, employees, customers etc) can ensure a successful outcome.

Jennison understand that there is an immense degree of pressure on directors when deciding what is best for their company. This is particularly true when making the decision to continue or cease trading.

Jennison can help you make the decision with confidence.

Sometimes it is possible for a company to continue trading with the help of insolvency services, following procedures which will protect the company from its creditors and allow it to breathe and come back to life.

Such business recovery procedures are:

• Company Voluntary Arrangement (CVA), where an arrangement is made with the company’s current creditors; or
• Administration, where an Insolvency Practitioner would be appointed to run the company with the aim of rescuing it.

Unfortunately there are times when the company has ‘had its day’ and it is time to shut up shop.

• Liquidation is a procedure used to realise the company’s assets and discharge its liabilities.

Although this may seem extreme, acting sooner rather than later could prevent:

• Directors attracting personal liability
• Director issues of wrongful and fraudulent trading
• trade creditors suffering greater losses than necessary;
• the bank situation worsening, and possibly resulting in the directors paying monies owed under their personal guarantees; and
• employees not being paid for long periods of time;

Jennison understand that the directors will be under substantial pressure in such a situation, we aim to remove the black clouds by providing:

• professional insolvency advice which is easy to understand
• approachable staff;

To speak to one of specialist team members, please call us now on 0800 107 8788.

© 2010 Jennison Insolvency is a trading name of Moorfields Corporate Recovery LLP.
Tel: 0800 107 8788. Fax: 0800 107 8788 | Registered in England. Company Number OC334837
home | xml sitemap | bookmark this site | website designed & built by greymatter | web design sheffield
Insolvency Advice is available nationwide including Lancashire, Leeds, London, Manchester, Newcastle, Nottingham, Sheffield and throughout Yorkshire.