0800 313 4331 consult@interco.com
Fresh Start

Fresh Start

A more viable option than a CVA will often be to cease the present company altogether and make a Fresh Start. This means you lose all the liabilities of the present company, but acquire all its assets and rights from the Liquidator and continue trade with a completely fresh company. You are free to make new deals with key suppliers and present a seamless profile to customers.

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LOSE LIABILITIES – KEEP ASSETS

You decide in discussion with our Licensed Insolvency Practitioner whether to put the present company into Creditors Voluntary Liquidation (CVL), or Administration. We “pre-pak” a binding legal transfer of the previous company’s trading contracts, rights and physical stocks and assets to your new company on an affordable basis. Leases of Premises, Vehicles and Equipment can be assigned onwards to your “newco”, or replaced.

A more viable option than a CVA will often be to cease the present company altogether and make a Fresh Start. This means you lose all the liabilities of the present company, but acquire all its assets and rights from the Liquidator and continue trade with a completely fresh company. You are free to make new deals with key suppliers and present a seamless profile to customers.

LOSE LIABILITIES – KEEP ASSETS

You decide in discussion with our Licensed Insolvency Practitioner whether to put the present company into Creditors Voluntary Liquidation (CVL), or Administration. We “pre-pak” a binding legal transfer of the previous company’s trading contracts, rights and physical stocks and assets to your new company on an affordable basis. Leases of Premises, Vehicles and Equipment can be assigned onwards to your “newco”, or replaced.

SEAMLESS TO CUSTOMERS

To Customers the changeover can look seamless by careful application of insolvency rules and branding and a marketing strategy that treats change as positive innovation. Your “newco” is not burdened with the negative credit reference as it will with a CVA.

Insolvency Solutions acts as your Transition Manager to help you to implement the “switchover” smoothly, until the old company is closed and your “newco” is fully trading.

SAFELY MANAGED

Penalties for breaking Insolvency Rules can be savage. Unless the transfer of assets and restart of trading are executed correctly and legally, a Director can become personally liable for the debts of the company they have closed, essential business assets forfeited and new trading halted.

As Transition Manager, Insolvency Solutions ensures you avoid legal pitfalls. You deal correctly with your insolvency responsibilities, but also pursue such urgent business needs as managing customers, continuing key suppliers and transferring leased facilities.

RESTART AS A FRESH COMPANY?

Give me a call to discuss a seamless business transfer…

Freephone : 0800 313 4331 – Chichester : 01243 624716 – Bromley : 0208 468 1033 or

 

Michael O’Connor M.A Managing Consultant

RESTART AS A FRESH COMPANY?

Give me a call to discuss a seamless business transfer…

Chichester :01243 624716
Bromley :0208 468 1033
or

 

Michael O’Connor
M.A Managing Consultant

Interco Management Services Limited

Forum House – Stirling Rd – Chichester – PO197DN – 01243 624716

1 Bromley Lane – Chislehurst – Bromley – BR76LH – 0208 468 1033

Interco Management Services Ltd

Forum House : Chichester : PO197DN : 01243 624716

1 Bromley Lane : Bromley : BR76LH : 0208 468 1033