If the business is only insolvent due to adverse circumstances we can transfer your trading, legally and affordably, to a fresh, debt free, Company. .
LOSE LIABILITIES – KEEP ASSETS
This means you lose all the liabilities of the present company, but acquire all its assets and rights from the Liquidator on a legal and affordable basis and trade as a fresh, debt free, new company, presenting a seamless profile to customers.
We arrange with our Licensed Insolvency Practitioner colleagues to put the present company into Creditors Voluntary Liquidation, or Administration. Part of this arrangement is to “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, market value, basis. Market Value of a closing company is seldom large and we can always arrange, extended payment. Leases of Premises, Vehicles and Equipment can be assigned for continuance, or left to be terminated, in the Liquidation, and replaced.
SEAMLESS TO CUSTOMERS
As Transition Manager, Insolvency Solutions ensures you avoid legal pitfalls. You deal correctly with your insolvency responsibilities as a Director, but are freed to focus on driving the relaunched business – achieving new sales, managing customers, continuing or replacing key suppliers and transferring leased facilities.
SOME QUESTIONS YOU MAY WANT ANSWERED?
- Is a Phoenix Company legal?
- Does it break Insolvency Rules?
- Can it be done ethically?
- Can I use the same name ?
- How do I buy my oldco assets ?
- Who decides a fair value price?
- Is that affordable? How ?
- What do I say to Customers?
- Will oldco creditors supply me?
- Can I transfer Contracts, WIP?
Of course you may have others too, if you have any just ask, click : ‘Ask a Question‘
HOW WE HELP
We steer you through the whole process – legally transferring your Assets to trade as a new, Debt free, Company.
OUR KEY STEPS
The managed route…
- Form New Company
- Value Oldco Assets
- Decide Lease Transfers
- Acquisition Agreement
- Liquidator Approval
- Oldco Liquidation
- Trading Continues
..to successful Restart…
ASK A QUESTION?
Just click to ask us a question, without any obligation and we will answer promptly.
Chichester, St John’s House, St John’s Street, PO19 1UU : 01243 624716
Also in : Horsham, Afon Building, RH12 1TL : 01403 839766
Interco Management Limited