The goal of the new moratorium is to provide viable companies time to restructure or seek investment in an effort to save them. It offers a huge opportunity for company directors which can only be fulfilled by a Licensed Insolvency Practitioner (IP) performing the role of “moratorium monitor”.

Adjourn Winding Up Petition

Remove concerns of directors remaining in charge of what is deemed a ‘debtor-in-possession’ process.
Specialists can run companies in a moratorium.
Helps to create an alignment of interests between the directors of companies that need the protection of a moratorium.

Lucas Ross are ideally placed and have the experience in both running companies and in insolvency so that they are able to assist directors in fulfilling their obligations to the monitor. We will also reassure suppliers and creditors that we are getting the information required to keep track and support the business during the turnaround process. Lucas Ross are specialist providers of turnaround work. We understand the challenges of running business and work closely with directors in preparing the information required to prepare the necessary statement’s that sees moratorium being utilised in the rescue of the company. Moratoriums might also be used as a gateway to CVAs instead of using restructuring plans. The initial 20 day moratorium and extension of a further 20 days is usually enough time for a CVA proposal to be prepared and sent out to creditors.

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