Our respected, reliable and local team have strong working relationships with clients and contacts providing clear and objective advice. We have long standing experience of dealing with all forms of insolvency appointments and work hard to explore all options available. Our advisors have worked successfully with a number of clients in the arts, public sector and energy sectors, amongst others, helping to restructure a business so as to minimize costs and refocus on key objectives to achieve growth.
The firm has also advised on a number of recent high profile administrations in Scotland including property & construction companies; Muirfield Contracts Ltd and Lambert Contracts Limited, together with well known Glasgow arts venue, The Arches.
We have extensive experience of advising companies on the best way possible to deal with corporate financial difficulties a company may be facing and how to achieve the best outcome for a company’s creditors.
We can advise on the various options available, including administration, liquidation and Company Voluntary Arrangement (“CVA”), and explore the most suitable option dependent on circumstances.
Our experienced staff work alongside specialist lawyers and valuation agents to ensure business assets are maximised in distressed situations.
Corporate Restructuring/Members Voluntary Liquidations
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, such as dissolving dormant companies or subsidiaries ensuring a corporate group structure is more transparent and reducing operating costs.
Not every company facing financial difficulties needs to enter a formal insolvency process. We can help companies to avoid formal insolvency procedures through restructuring and identifying cost reductions by drawing on our expertise, industry connections and experience within our corporate finance team of advising on private equity, management buy-outs, preparation of a business model, financial modeling and business valuation.
Debt Arrangement Scheme (DAS)
Partnerships and individuals in financial difficulties now have the option to enter a Debt Arrangement Scheme (DAS). A Debt Arrangement Scheme (DAS) is a government-backed scheme designed to help people repay their debts over an agreed amount of time without the threat of legal action. The aim of the scheme is to allow the individual or business to pay what they can afford at regular intervals based on anticipated income whilst freezing any interest, fees, penalties at the start and then waiving them upon completion.
We are able to advise debtors, on the best way possible of dealing with mounting debts and financial difficulties.
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.dontfretaboutdebt.net.
Assisting Creditors, Clients, Solicitors
A customer in severe financial difficulty could seriously harm a business. We can help 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 a creditor and helping with the practicalities, including representation at creditors meetings.
- Liaising with your solicitor in the most efficient way to secure payment or wind up of a company.
We can agree options with you for customers who may be in financial difficulty to enable the best outcome. This can involve:
- Independent business reviews (“IBR’s”) which are conducted quickly and reported in a direct and economic form based on the commercial realities facing a business and the Bank debt and security position. Our recommendations are practical and often innovative.
- Restructuring, formal corporate insolvency or formal personal insolvency.
Assisting Professional Advisers
We are conscious that in formal insolvency procedures our Insolvency Practitioners (“IP’s”) act primarily for the creditors. However we can 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 creditor’s clients with respect and integrity and wherever possible involve creditors in the process, which may include:
- Restructuring or formal corporate insolvency
- Advising on directors responsibilities.
- Formal personal insolvency
Partner and Head of Business Restructuring & Insolvency, Glasgow
Derek is a well-known Insolvency practitioner, having previously worked on the Banking side with high risk corporate customers. He is experienced in dealing with all forms of restructuring, turnaround and both corporate & personal insolvency. He sat for 10 years on the “R3” Technical Committee, is a recent Chairman of the ICAS Insolvency Permit Committee, and lectures to insolvency students and other professionals.
Blair Milne is a Partner in Campbell Dallas’ Business Recovery and Insolvency Team. He is a qualified Insolvency Practitioner, with more than 20 years experience in providing insolvency and restructuring advice to businesses and individuals.
Business Recovery & Insolvency Director, Glasgow
Susan Roy is a Director in the Business Recovery and Insolvency team based in Glasgow. Susan’s experience includes independent business reviews and all types of formal corporate insolvency work and advice. She has been involved in several complex sequestration cases and has extensive experience in managing cases within the property sector.
Susan is qualified to act as an insolvency practitioner and is a member of both the Institute of Chartered Accountants of Scotland and R3, the Association of Business Recovery Professionals.