Joan Houston is a licensed Insolvency Practitioner carrying out formal insolvency appointments in solvent and insolvent winding up, Administrations, Bankruptcy services and Formal Insolvency Appointments

 

Insolvency

It is essential directors take advice on their position and their legal obligations when an organisation is being pressed by creditors or regulators, and neither a correction nor a restructure is available.
Seeking immediate advice can help to protect and preserve the organisation’s retrievable value. Acting promptly can lead to a better outcome for stakeholders than originally anticipated.
Though the circumstances may be difficult, Joan Houston as an insolvency practitioners can exercise damage limitation, manage exposure to loss, and where possible realise value.
When necessary, she can step in at short notice to act as administrator, administrative receiver, supervisor or liquidator.

Exit strategies for solvent business

For owner managed businesses or complex company structures, corporate rationalisation can enable organisations to reduce inefficiencies, manage risk and return surplus assets to shareholders.
This can be achieved in an efficient and effective manner either via a Members Voluntary Liquidation or an orderly wind downs followed by strike off or partnership dissolution.

Recognising potential risks in exit

To simplify a complex group structure will proactively manage the risk and eliminate dormant companies if necessary. This enables organisations to identify reasons to preserve entities or take action to safely streamline an organisation.
Size of organisation aside, planning for an orderly winding up is vitally important. Undertaking relevant due diligence to identify the risk of claims arising is key to a successful wind down.
We understand that identifying hidden liabilities can be difficult, particularly for groups or companies with a history of acquisitions. In each of these scenarios we provide the insight and opportunity to identify the opportunities and treats to the organisation, plan and execute the process tailored to address the client needs.
In an owner managed business the motivation may simply be to exit the business and maximise the return to shareholders, through our planned approach to a member’s voluntary liquidation we will effectively return the value to shareholders in a time efficient manner. This has the key advantages that:-

• any distributions are treated as a capital distribution;
• all liabilities have been considered and dealt with correctly; and
• HMRC satisfaction to exit the business.

Contact us for a Formal Insolvency Appointment. Discretion assured.