Post lockdown, many directors will attempt to rescue their companies using statutory insolvency procedures, most likely administration or a company voluntary arrangement (CVA) because both offer excellent restructuring opportunities. Whereas CVAs are suitable for insolvent companies with sympathetic creditors; a pre pack administration is more convenient for profitable but insolvent companies that have lost the support of their creditors. 

Topics covered:

• Company voluntary arrangements (CVAs)
• Pre pack administrations
• Hiring an insolvency practitioner (IP)

Duration 25 minutes

In This Episode, Peter Murray explores the options available to a company director looking to restructure their business following the easing of lockdown measures.

In Today’s Show you’ll discover:

Why it’s crucial that you seek counsel from an independent expert before approaching an insolvency practitioner (IP).     

Revealed: how to maintain a healthy relationship with your IP throughout a CVA or administration, and avoid claims being made against (Skip to 20 mins).

Peter shedslight on the benefits of pre pack administrations and CVAs for directors of insolvent companies 

Discover a way to cut ties with creditors, buy back the useful parts of your company, and start trading again with a clean slate. 

An IP can only recommend statutory insolvency procedures, but an independent consultant can recommend alternative rescue mechanisms depending on your situation. Get good counsel before making rash decisions.

Visit insolvencyandlaw.co.uk for more info