Liquidation & Insolvency
Liquidation and insolvency services are provided to businesses facing financial distress, aiming to wind down their operations in an orderly manner or navigate through insolvency proceedings. These services are typically offered by professionals such as insolvency practitioners, liquidators, and restructuring experts. Here are key components of liquidation and insolvency services:
1. Insolvency Assessment:
- Evaluating the financial health of the business to determine whether it is insolvent or facing insolvency.
2. Restructuring Advisory:
- Advising on financial restructuring strategies to help the business recover from financial difficulties.
- Developing and implementing turnaround plans to improve financial performance.
3. Debt Restructuring:
- Negotiating with creditors to restructure debt, potentially through debt refinancing, debt forgiveness, or extended payment terms.
4. Bankruptcy and Insolvency Proceedings:
- Guiding businesses through legal insolvency proceedings, such as bankruptcy or administration, depending on the jurisdiction.
5. Creditors’ Voluntary Liquidation (CVL):
- Assisting in the process of initiating voluntary liquidation with the approval of the company’s creditors.
6. Members’ Voluntary Liquidation (MVL):
- Managing the orderly liquidation of a solvent company at the request of its shareholders.
7. Pre-pack Administration:
- Advising on and facilitating the sale of a distressed business’s assets before entering formal insolvency proceedings.
8. Asset Sales and Disposal:
- Overseeing the sale of the company’s assets to maximize value for creditors.
- Conducting negotiations with potential buyers.
9. Employee Redundancy Management:
- Assisting with the legal and financial aspects of employee redundancies during insolvency or liquidation.
- Liaising with relevant employment authorities.
