Case Studies

A software services company in Surrey overspent on a development project, which had to be sold on at a knock down price, leaving the company insolvent. A CVA (company voluntary arrangement) was negotiated with creditors who received a substantial dividend. In 3 years the shareholders had a profitable company freed from past debts and able to expand its core business.

A packaging company in South London struggled to pay its creditors after a large contract went wrong. A CVA was agreed to prevent winding up while the factory was sold and the business restructured. Creditors paid in full with interest.

An internet service provider in Cambridgeshire failed to sign up customers fast enough to meet business plan. Shareholders unwilling to subscribe for additional capital. An Administration Order was obtained to allow time for business to be sold as a going concern. Sale achieved in 4 weeks without loss of service for the 1000 broadband customers.

A Sussex based electronic engineer was the target of a devious takeover attempt, including attempt to wind up. Appointed administrator. Business continued including design and manufacture of safety critical equipment for NATS. Robust legal action taken over a number of years to kill off takeover, and recover funds from former director. Business preserved for majority shareholder, and creditors likely to be paid in full.

Appointed Administrator of window unit manufacturer in South Wales . Sold business as going concern to principal customer. Employment preserved.

Appointed Trustee in bankruptcy of partners in a public house on the Isle of Wight . Trade continued and business sold as a going concern.

Appointed Trustee in bankruptcy of former nursing home proprietor. Full range of legal remedies applied to counter non-disclosure of assets. Assets recovered included a small chateau in Normandy , and 2 yachts not declared to the Official Receiver. Substantial dividend for ordinary creditors.

Self-employed haulier bankrupt in 1990’s recession. Appointed Trustee 10 years later. Advised bankrupt now solvent to apply for annulment of bankruptcy. Successfully obtained and creditors paid in full.

Sussex accountant bought practice on a very highly geared deal. Business declined, and debts could not be serviced. IVA (individual voluntary arrangement) obtained to prevent closure of practice. IVA completed with business intact and realistic return to creditors.

Appointed compulsory liquidator of recruitment agency in London for senior lawyers following suicide of principal shareholder and director. Arrangements made to work out the pipeline. Creditors paid in full with interest .

Appointed in batch of MVL’s (members voluntary liquidations) of redundant subsidiaries of FTSE 100 company. Cost effective corporate tidying up achieved.

Advised an refrigeration company in Taunton which could not pay its weekly wages. Assisted with structuring sale to preserve business and be acceptable to liquidator to be appointed. Employment preserved.

Appointed voluntary liquidator of medical equipment importer in Hampshire. Negotiated sale of business to former director. Management and staff employment preserved.

The principal shareholder of an office equipment importer in Hampshire was negotiating sale of shares to minority in conection with retirement. Reviewed company’s position and persuaded relevant parties that business had been offered at about half its true value . Retirement plans revised upwards.

A telecom company in Guilford , insolvent and without realisable assets. Assisted the directors to have the company struck off while giving creditors comfort that their interests were not being prejudiced. Company dissolved at much lower cost to directors than liquidation.

Assisted couple in Hampshire in an unsupportable IVA with another practitioner they had never met face to face. Obtained a modification such that they were released from their debts with no further payments.

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