Responding To Insolvency
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As one of the dominant firms in the South, we are often asked by people to advise them on how to respond to the insolvency of another party, which either represents an opportunity or a threat. Typical situations could include.
We offer the full range of business review and insolvency services directly to the stakeholder
- Renegotiating existing contracts with an insolvent party
- Helping a landlord deal with an insolvent tenant
- Trading with the insolvency practitioner
- Acquiring the business in difficulty
- Approving the proposals of an administrator or CVA supervisor
- Ensuring that a key customer or supplier survives
- Exercising security over the insolvent's assets
- Enforcing retention of title clauses
- Properly using rights at meetings of creditors
- Addressing an existing insolvency practitioner that is not carrying out his functions correctly
These situations are inevitably varied by their nature and we would need to prepare a unique brief for each one individually. In some cases, our involvement starts and is limited to advice over the phone or a short meeting. In others, we would agree a more involved assignment, with fees either reflecting the time we spend or the success of the outcome. In the first instance, we would be pleased to discuss with you without commitment the nature of the problem with some pointers as to how you could proceed.
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