When companies find themselves in deep water too often, they drown; this does not have to be the case. A cash flow problem can spiral out of control; affecting production, turnover and goodwill. A business can often have problems with reduced income and constrained cash flow, leading to potential insolvency.

We provide recovery and insolvency services to help businesses confront and overcome issues they may be experiencing. We assess and advise on the extent of the problem and determine what’s needed to recover.

We first seek constructive solutions, assuming that liquidation is not inevitable. Our corporate recovery experts and other specialists examine all options including Examinership, the formal vehicle for corporate recovery. In doing so, we provide a professional, cost-effective service that offers practical business recommendations and solutions, in clear, concise reports.

Where it is not possible to overcome a company’s difficulties, we offer clear advice and recommendations on winding down. We can also advise creditors on recovering their debts in this scenario.

a. Receivership
A Receivership is used for the purpose of enforcing security and it will usually be a bank or private equity fund who appoints a Receiver/Manager on foot of a debenture which incorporates a fixed and/or floating charge over the assets of a company. Baker Tilly has years of experience in dealing with receiverships.

We can assist your company receivership by:

  • Acting as Receiver
  • Advising a company where a Receiver has been appointed

b. Liquidation
A winding up of a company may arise in the form of a Court or a Compulsory Liquidation, a Creditors Voluntary Liquidation.

On behalf of a company going into Liquidation we:

  • Act as the company’s nominee as Liquidator following the appointment of the Official Receiver
  • Prepare the Statement of Affairs
  • Act on behalf of creditors of a company going into liquidation
  • Attend the creditors meeting
  • Act as the creditor’s nominee as Liquidator following the appointment of the Official Receiver
  • Review a creditor’s claim against the company
  • Advise on retention of title rights
  • Provide tax advice in advance of commencing the process

c. Examinership
Examinership was introduced to enable insolvent companies explore all opportunities for their survival.

This is a rescue process that involves the appointment of an Examiner (usually a practising accountant) to examine the business and shepherd the company through a breathing-space restructuring period.

On behalf of the company we can:

  • Assist a company in determining whether it is suitable for Examinership
  • Act as Examiner if nominated by the shareholders, directors or creditors
  • Advise and assist companies in preparing their application to the Court for the appointment of an Examiner

Contact Us

Neil Hughes

Managing Partner, Corporate Restructuring Services