Many companies across the UK are emerging from lockdown with a sense of cautious optimism. While the majority expect top-line revenues to return to pre-pandemic rates within the next two years, more than half also expect to encounter a liquidity shortfall in the next 12 months.
While in the longer term firms may be on the road to recovery, many are far from being out of the woods yet. Despite reducing costs, companies have still faced challenges around servicing debt. Many experience an inability to service debt payments within the last 12 months and many others have less than 12 months of liquidity – contributing to an alarming expectation of facing issues servicing their debt payments in the next year.
In order to safeguard the bottom-lines of many firms, a large portion of firms are likely to take drastic measures in the coming year.
With questionable circumstances surrounding insolvency matters, especially whereby a firm has utilised a number of services, racked up a lot of debt and has sought to place the business into liquidation, many creditors are sent thousands of insolvency notices without any confidence or knowledge of what to do
Lucas Ross – Business Rescue, Recovery & Insolvency offer a bespoke and personal service to you as a client which takes away the headache of managing all the insolvency documentation you receive. We help recover outstanding debts owed to you by insolvent individuals and companies.
How Does It Work?
Once you receive notice of an insolvency procedure as a creditor, all you need to do is simply let us know. From that point, we will:
- Identify the status of the individual or corporate debtor
- Identify whether an Insolvency Practitioner (IP) has been appointed
- Review Voluntary Arrangement proposals in order to improve your dividend prospects
- File proxies and proofs of debt on your behalf
- Notify you of any potential dividends
The sooner you advise us about the pending insolvency, the more options we have to maximise the return for you.
As with many business matters, negotiation with a debtor is often a better course of action than combative or enforced legal action. Accordingly, prior to any formal insolvency we can, if required, approach the debtor and establish their financial position and ultimately propose a course of action that will ensure the best result for you.
- Personal service is our priority
- We ensure that all our information is regularly updated, giving clients total transparency in relation to their insolvent debts
- Every client is allocated a dedicated point of contact who proactively manages the relationship
- We seek to establish mutually beneficial long-term relationships with clients
- Our services can be tailored to suit your needs
- We can provide as little or as much input as you require