Business Recovery & Insolvency
We relish complex financial difficulties and can often bring innovative solutions.
Our respected, reliable and responsive recovery and insolvency team has a strong working relationship with clients and contacts providing clear and objective advice. We have long standing experience of dealings with all forms of insolvency appointments and aim, wherever possible, to prevent needless formal insolvency.
Respected Team
Our people are respected by their peers.
David Hunter, who leads the team, sits on the Insolvency (lobbying) Committee of ICAS, lectures regularly to fellow insolvency professionals and to non insolvency solicitors, accountants and debt collection experts and edits Impecunias, the ICAS/ Law Society Technical Bulletin.
Derek Forsyth is well known from his previous employment in the asset structuring department of the Clydesdale Bank plc and has worked with high risk corporate customers. He sits on the “R3” Technical Committee and lectures to insolvency students and to other professionals.
Our managers are all JIEB qualified, i.e. able to hold Insolvency Permits in their own right, and have over 30 years recovery and insolvency experience.
They are assisted by assistant managers, administrators (primarily “home grown”) and support teams, in our opinion second to none in Scotland.
Help for Creditors/Clients/Solicitors
A customer in severe financial difficulty could seriously harm your business. We can help you with:
- Advising on the practical aspects of supplying and recovering goods and alternative methods of recovery.
- Advising on all of the formal insolvency options available to you and helping you with the practicalities, including representing you at creditors meetings.
- Liaising with your solicitor in the most efficient way to secure payment/wind up the company.
Help for Banks
It is our priority to agree the options with you for your customers in financial difficulty and to carry out the chosen option efficiently and with the maximum return of information and/or cash to the Bank. This may involve:
- Independent business reviews (“IBR’s”) which are conducted quickly and reported in a direct and economic form based on the commercial realities facing the business and the Bank debt and security position. Our recommendations are practical and often innovative.
- Restructuring, formal corporate insolvency, formal personal insolvency – further information on all of these are below.
Help for Professional Advisers
We are conscious that in formal insolvency processes our Insolvency Practitioners (“IP’s”) act for the creditors not for your clients. However we will advise your clients how best to reorganise, restructure or enter some form of formal insolvency without falling foul of the legal pitfalls. We will always treat your clients with respect and integrity and wherever possible involve yourselves in the process which may include:
- Restructuring or formal corporate insolvency – see below.
- Advising on directors responsibilities.
- Formal personal insolvency – see below.
Restructuring
Not every company facing financial difficulties needs to enter a formal insolvency process. We can help you avoid this through drawing on our expertise in private equity, management buy-outs, preparation of the business model, financial modeling and business valuation.
Formal Corporate Insolvency Processes
It is our priority to advise you on the best way possible to deal with the financial difficulties your company faces and to achieve the best outcome for your company’s creditors.
We will advise you on the various options available, including administration, liquidation and Company Voluntary Arrangement (“CVA”), and explore the most suitable option for your particular circumstances.
Our experienced staff work alongside specialist lawyers and valuation agents to ensure business assets are maximised in distressed circumstances.
Members Voluntary Liquidations/Restructuring
If your company is solvent but you wish to cease trading and distribute assets to shareholders or restructure for tax purposes then you may consider members’ voluntary liquidation.
We also have considerable experience in dealing with group simplification, e.g. in dissolving dormant companies making their group structure more transparent and reducing operating costs.
Personal Insolvency Processes
We make it our priority to advise you, the debtor, on the best way possible of dealing with the financial difficulties you face.
The recommendations made will depend upon your own particular circumstances and may include entering a Debt Arrangement Scheme, a Protected Trust Deed or Sequestration. To find out more go to www.campbelldallasdebt.co.uk.
For further information please contact a member of our Business Recovery and Insolvency Team on 0141 886 6644 or email lesley.israel@campbelldallas.co.uk.
