Our Successful Track Record
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What do we call a successful outcome?
- The business is saved and prospers, with very few people being aware that there was ever a problem.
- The proprietors are not seen as having failed, thereby preserving their reputations with investors, lenders, customers and creditors and family and friends.
- Lenders and investors are brought on board and assist in solving the problem.
- The directors are able to fulfil their moral and legal obligations to protect the positions of customers, creditors and employees.
- As many jobs as possible are saved.
- Personal guarantors can minimise and hopefully avoid any call on their personal funds.
- Directors avoid potential personal liabilities under wrongful trading.
- Directors avoid being caught in the ever more stringent director disqualification net.
We are proud of our successful track record which we know sets us apart. We all have our favourite "war stories" of those people we have helped, businesses we have saved and enhanced recoveries we have achieved for creditors. The selection in this section has been chosen because the cases best illustrate the types of situation that we commonly encounter and the services we provide.
All of the examples in this section are real cases that have been handled by Portland directors. For understandable reasons of confidentiality, however, the names have been changed to preserve confidentiality.
- Business Reviews
Read how we helped Mike to focus on difficult decisions when he took over his family business and to keep lenders on-side
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- Turnaround Plan
In this motor trade case, Ian used our departmental turnaround plan to demonstrate areas of strength and weakness and in doing so, he pulled together his managers as a team
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- Recovery Implementation
Full speed in reverse: Having expanded too quickly and perhaps unwisely, Philip needed our help in rolling it back before his bank did it for him
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- Stakeholder Management
It's sometimes the case that, as an independent person, we can get your message across, as Isabel found out in this case
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- Working Capital Management
Ian learns the hard way that business is all about generating cash, not sales
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- Raising Finance
- See how we helped David avoid angry parents by raising £2m.
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- Mike miscalculated the ability of his business to afford capital repayments and we helped him present a case for rescheduling.
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- Business Acquisition, Merger and Disposal
Selling a major business for book values of assets in difficult conditions within ten working days following a full marketing exercise is good going by any reckoning. Teamwork with directors is key, as this case shows.
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- Administration
- Sorting out operational difficulties
Administrations are principally intended to save the company by creating a breathing space. Sometimes this is needed when the financial position needs to be clarified and the future path mapped out. See how we helped Martin do this when he overstretched himself.
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- Exploring the prospects of refinancing the business (1)
Administrations are principally intended to save the company by creating a breathing space. Sometimes this is needed to explore properly the prospects of raising new equity. Even if it is not successful, administration can still provide a better outcome than liquidation as Peter found in this case.
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- Exploring the prospect of refinancing the business (2)
Sometimes administration is needed to explore properly the prospects of raising more money from existing shareholders. This process needs dogged determination but perseverance can pay off, as George found in this case.
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- Achieving better outcomes than liquidation
Sometimes it is not possible to save the company for reasons outside the directors' control but Tim and Martin still found the protection of administration to be a significant comfort whilst we worked with them to secure a good home for the business as a going concern.
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- CVA
- CVA as a solution to a company overstretching itself
In this example, Richard used a CVA as a quick and simple means to gain a moratorium when he overstretched himself.
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- Using CVAs to realise tax losses
CVAs have a number of tax advantages and specialist advice was needed to ensure that Tony and his colleagues realised as much money as possible for the accrued losses.
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- Using a CVA to realise assets effectively
Trying to realise value for the supporter database of a charity in liquidation would have been a nightmare. Look how we used a CVA to provide a simple - and highly rewarding - solution for Bill and his fellow trustees.
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- Using a CVA to acquire a struggling business
Most advisors would simply move immediately to sell a business out of an insolvent company. But sometimes third party rights make it difficult to transfer key business agreements. A more intelligent and creative approach is to use a CVA to cram down the liabilities and sell the company still holding the agreements. See how we achieved this for Toby.
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- Using a CVA to survive and prosper
Derek and his colleagues had the determination to save the business and we had the technical skills to buy him the time.
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- Thwarting the bully customer
A major customer might think he has you over the barrel and with no choice but to accept his derisory offer. We knew differently. So does Robin.
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- CVAs can effectively implement group restructuring
CVAs can be used to obtain creditor approval to a restructuring plan and the one we proposed allowed Tim to implement a creative solution to his problem.
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- Thanks to CVAs, large bad debts need not mean the end of the road
A major bad debt need not be the end of the road with some sensible advice and the goodwill of creditors. Ask Stephen in this example.
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- CVAs can effectively implement a shareholder rescue
CVAs can allow shareholders and creditors to reach a sensible compromise and allow the company to survive. There is no limit to the lateral approach and the flexibility to take account of future circumstances, as we showed John's client.
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- CVAs avoid TUPER
If you want to reduce the employee structure prior to a sale of a business as a going concern, then more likely than not the purchaser will assume responsibility for redundancy costs under TUPER (Transfer of Undertakings Protection of Employment Regulations). A more advantageous way to proceed to maximise the price for all creditors is to reduce the workforce and implement a CVA to bind in the resulting liabilities prior to a sale of the company, which avoids any employment transfer.
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- Liquidation
- Receivership
- Responding to an Insolvency
- Working with Existing Advisors
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