Hi from Greenfield Recovery | Licensed Insolvency Practitioners | National

By : Forum Member
Published 28th June 2019 |
Read latest comment - 2nd July 2019

We pride ourselves on our friendly, caring approach and we aim to share the responsibility that Directors & Owners of distressed companies may be feeling. Our experienced and innovative team will work with you, establishing a resolution that achieves the optimal outcome for your company, its employees and creditors. 

Advice may take the form of negotiations with creditors both secured and unsecured, including HMRC, trade creditors, financial institutions and landlords. It may be the raising of finance or insolvency help - our speciality. 

Our company restructuring and licensed insolvency services range from Company Voluntary Arrangements to Administration through to Liquidation if need be. We also advise on the fiduciary duties of Directors and can assist with finding funding for companies.

Please feel free to contact us and ask for company restructuring and insolvency advice.  It's free and there's no obligation.  Alternatively, for regular solvency insights, follow us socially, bookmark our blog or subscribe to our monthly newsletter.

Call: 0121 201 1720 | Visit: www.greenfieldrecovery.co.uk


Thanks,
GreenfieldRecoveryLtd
Greenfield Recovery Ltd
Share this post on Social Media or email
Comments

Welcome to the forum and thanks for such a detailed introduction. I guess it's a subject most companies don't look into until they have to! 


Thanks, Rebecca, Proofreader and Copywriter
The master of web copy.
Pay for Precision | Proofreading, copy-editing & copywriting.

Indeed. As soon as an owner realises their business is running out of cash they should take action to identify the causes (whilst they still have the time & assets to make the necessary business changes). As time goes on, the options for recovery reduce.  

When faced with insolvency (can't pay a business debt), our main immediate advice is to put the interests of creditors ahead of all other interests and seek help from an insolvency practitioner asap.


Thanks,
GreenfieldRecoveryLtd
Greenfield Recovery Ltd

Indeed. As soon as an owner realises their business is running out of cash they should take action to identify the causes (whilst they still have the time & assets to make the necessary business changes). As time goes on, the options for recovery reduce.  

When faced with insolvency (can't pay a business debt), our main immediate advice is to put the interests of creditors ahead of all other interests and seek help from an insolvency practitioner asap.”

 

Is that because otherwise one of the creditors could apply to make you bankrupt so they get their money?


Thanks, Rebecca, Proofreader and Copywriter
The master of web copy.
Pay for Precision | Proofreading, copy-editing & copywriting.

There are a number of actions a creditor can take to recover a debt, including submitting a winding up petition or bankruptcy petition in court. 

An insolvency practitioner can advise and help businesses; facilitating a formal insolvency procedure when an informal resolution isn’t viable.  Further, there are insolvency procedures available that can provide protection from creditor action whilst plans are formulated, but often these are only possible if an insolvency practitioner is consulted at an early stage. 

We would always encourage businesses experiencing financial difficulties to take advice ASAP to mitigate the impact on creditors and, where possible, attempt to ensure the business’ survival.


Thanks,
GreenfieldRecoveryLtd
Greenfield Recovery Ltd

Post Reply Post a new message to this Thread