Start Afresh

START A SUCCESSFUL NEW COMPANY

The weight of historic debt and a negative approach by company creditors will sometimes make negotiated continuance impossible even via a CVA, yet, in the current period, the business is profitable.

Just when success is within your grasp, you are being forced to stop !

Instead, Insolvency Solutions can help you effect successful business continuance as a fresh new company (Phoenix Company). Sometimes we can also offer new finance, to further assist this re-launch.

Insolvency Solutions arranges a binding legal transfer of the old company’s trade and assets to your new company on an affordable basis. With consent of the Liquidator, or Administrator, Business Contracts and Leases of Premises, Vehicles and Equipment can often be assigned to Newco.

With advice from our Insolvency Practitioner and Legal colleagues you decide whether the old company will go into Creditors Voluntary Liquidation (CVL), or, in special cases, Administration. Clients are invited to discuss these alternative insolvency procedures at any point.

To your Customers the changeover can look seamless.

EXPERT TRANSITION MANAGEMENT

Penalties for breaking the Insolvency Rules can be savage. Unless the assets transfer and Phoenix restarting are executed within the rules at every point, a Director can become personally liable for the debts of the company they have closed, and the essential business assets forfeited.

To ensure you avoid such pitfalls and can implement the “switchover” as smoothly as possible Interco acts as your “Transition Manager”. We fulfil this role until the old company is closed and your “Newco” is fully trading. On request, we can also assist in the longer term, perhaps by providing pro-active tax accounting, or a non-executive Director.

Would your business be viable if you lose all debts but keep its assets and customers?  contact us today for no obligation advice, or active assistance to legally transit to a newco and re-trade successfully.

Would your business be viable if you lose all debts but keep its assets and customers?  contact us today for no obligation advice, or active assistance to legally transit to a newco and re-trade successfully.

Free, confidential, expert, advice.

0800 313 4331

Free, confidential, expert, advice.

0800 313 4331

Insolvency Solutions Ltd

Forum House – Stirling Rd – Chichester – PO19 7DN

1 Bromley Lane – Chislehurst – BR76LH

Insolvency Solutions Ltd

Forum House – Stirling Rd – Chichester – PO19 7DN

1 Bromley Lane – Chislehurst – BR76LH