Responding to an Insolvency
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Making the most of an acquisition opportunity
Fred owned and managed a small public relations practice. Trading was satisfactory but Fred had ambitions for greater things. He had just heard that a rival company had gone into liquidation and he thought this would be a great chance to take his business up a gear by buying it. He talked to his bank manager about taking on a loan for a cash purchase and was about to make an offer when his accountant suggested he spoke to us. We explained how a liquidator would most likely be viewing the position. We helped him propose an offer to acquire the business that involved an earn out from the existing contracts together with deferred and conditional consideration.
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