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Business Recovery & Insolvency |
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Pre Insolvency Advice
Not every situation requires the services of a chartered accountant or licensed insolvency practitioner, however when it comes to either
personal or business financial difficulties, it is best to seek professional advice as early as possible in order to avoid real problems
later on. We at Moore Stephens can meet with you, free of charge, at your home, business or at any one of our seven offices situated
throughout the province. For further information or to arrange a free consultation please contact either Michelle Gordon
(email: mgordon@msca.co.uk) or Darren Bowman (email: dbowman@msca.co.uk)
on 028 9032 9481.
Business Reviews and Investigations
Many major financial and lending institutions believe it prudent to review the financial prospects of both prospective and existing clients
before committing further resources. In addition business owners and directors sometimes require specialist assistance when significant
variations arise in expected profits or losses. We at Moore Stephens are able to provide the necessary sensitivity expertise required by
you to answer whatever queries exist. For further information please contact Michelle Gordon (email:
mgordon@msca.co.uk) on 028 9032 9481.
Corporate Turnaround
Increasingly, companies are seeking professional assistance from licensed insolvency practitioners at a time when poor results or a difficult
trading period have not yet ruined the prospects for future years. In these circumstances, where advice is sought early enough, no court
action is required and the directors remain in control of their company. For further information please contact Michelle Gordon
(email: mgordon@msca.co.uk) or Darren Bowman (email: dbowman@msca.co.uk)
on 028 9032 9481.
Voluntary Arrangements
(Individual and Corporate)
The voluntary arrangement was the most progressive aspect of the revised Insolvency Legislation which came into affect in 1991. It provides
both individuals and company directors with a realistic alternative to bankruptcy or liquidation, whilst providing creditors with the
assurance that a licensed insolvency practitioner will oversee every aspect of the process. An additional benefit for individuals is the
protection of the court from creditors whilst the proposals are considered, a benefit which the Government is now also considering for
Companies. For further information or to arrange a free consultation please contact either Darren Bowman (email:
dbowman@msca.co.uk)or Michelle Gordon (email: mgordon@msca.co.uk)on 028 9032 9481.
Administrations
In some circumstances it is prudent to buy time for a limited company in advance of liquidation and closure with a view to allowing a voluntary
arrangement to be proposed, the continuation of trade of some aspects of the company or simply to maximise the potential return to creditors.
The administration process can be instigated by either the company for court protection from a creditor or by a creditor who is unhappy with
the conduct of the company. In either case, a licensed insolvency practitioner can take control of the decisions required at all times with
the backing of the courts. For further information please contact David McClean (email: dmcclean@msca.co.uk)
on 028 9032 9481.
Receiverships
We at Moore Stephens in Northern Ireland can provide all banks, financial institutions and chargeholders with the experienced personnel required
to properly maximise the realisation of the secured assets whilst maintaining a professional approach to the continued trade. In addition to
our resources in Northern Ireland, we can call on the vast resources and experience of Moore Stephens Booth White in Great Britain. For further
information please contact David McClean (email: dmcclean@msca.co.uk)on 028 9032 9481.
Members Voluntary Liquidations
We provide a fast and efficient service to company directors and shareholders for the winding-up of solvent companies. This service is available
to both clients and non-clients. In addition, our Financial Services and Tax Planning Departments can provide guidance and assistance to
shareholders in dealing with the realised dividends. For further information please contact Michelle Gordon(email:
mgordon@msca.co.uk) on 028 9032 9481.
Creditors Voluntary Liquidations
In some instances there is no real alternative for the company but to take the necessary steps to place the company into liquidation. For those
companies which have sufficient assets to meet the costs of the liquidation, a Creditors Voluntary Liquidation is the most appropriate way to
achieve this goal. We can provide directors and shareholders with the necessary advice and assistance to guide them through each stage of the
process. For further information please contact Michelle Gordon(email: mgordon@msca.co.uk) or Darren
Bowman (email: dbowman@msca.co.uk) on 028 9032 9481.
Court Liquidations
Both Partners are available when required to take appointments as directed by the court for compulsory liquidations.
Their functions are similar to those undertaken in a Creditors voluntary liquidation, however the likely outcome in relation to unsecured
Creditors may not be as positive
Trustee in Bankruptcy
Appointments generated by either a meeting of Creditors or a direct appointment by the Insolvency Service. A Trustee will deal with all of the
bankrupt affairs for the statutory period required under the legislation and be available to deal with Creditors queries and requests for
information.
It is his remit to obtain a fair realisation of assets in the Bankrupts state and where possible pay a dividend to Creditors.
Representation at creditors meetings
Moore Stephens offer a free service for representation at creditors meetings which includes any type of insolvency action i.e. voluntary
arrangement, liquidation, bankruptcy etc.
Queries may be raised on behalf of a creditor at the meeting or questions asked of the directors in relation to specific areas of the business.
If required, Moore Stephens can accompany a Creditor to the meeting to provide Insolvency advice or technical backup. For further information
please contact Michelle Gordon (email: mgordon@msca.co.uk).
General Insolvency Advice
General insolvency advice is available free of charge at any of our seven offices at any time to suit the client.
The advice can be to individuals in relation to personal or business financial difficulties, impending bankruptcy or pressure from creditors.
We also advise companies on their current position and assist in planning their most sensible way forward where trading difficulties require
corporate recovery.
Good insolvency advice should be available to anyone at any time on any issue and we at Moore Stephens pride ourselves in providing this advice
in a professional and confidential manner. For further information please contact Michelle Gordon (email:
mgordon@msca.co.uk) or Darren Bowman (email: dbowman@msca.co.uk) on 028 9032 9481.
Insolvency Partner: David McClean
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