Business Insolvency Solutions
Doug Constable Group is committed to helping owners and directors negotiate the complexities and find clarity amidst the uncertainty of business insolvency. We’re on YOUR SIDE – we stand up for you and protect your interests, helping you avoid pitfalls while your business is winding-up and defending you from the unethical practices of liquidators and administrators who only serve creditors’ interests.
What is Administration?
When a company is insolvent and cannot restructure to meet its financial obligations, company directors can appoint an administrator who is empowered to organise its assets and liabilities. While the ultimate objective of voluntary administration is to save a business, unfortunately it is often unsuccessful and ends in liquidation.
What is Liquidation?
Liquidation, or winding-up, is a process used to address creditors’ claims by selling company assets and distributing the proceeds of asset sales to creditors. Liquidation may be ordered by a court, or entered into voluntarily by the company’s directors – however in both instances, the business pays for the liquidator’s services.
What is Receivership?
Much like liquidator, a receiver’s key responsibilities are to collect and sell assets held by a secured creditor (such as a bank) to recover debts owed. Unlike Liquidation, Receivership only lasts as long as it takes to repay the secured creditor, and does not require a business to be insolvent or to cease operating.
How Doug Constable Group Can Help
Insolvency can be incredibly stressful and complex. Doug Constable Group provide end-to-end solutions for businesses and directors facing wind-up, considering voluntary liquidation, or facing court-ordered liquidation.
We provide independent advice for business directors and owners and help develop a strategy to achieve the best and most realistically available outcome based on your business’ circumstances and financial situation.
Most importantly, we help defend your rights and help you reach the other side of insolvency with the least amount of stress, cost and negative impact to your life.
Protecting Your Assets
Appointing a Liquidator
Even if you appoint and pay for a liquidator or administrator – they’re number one priority is to recover debts for creditors. We guide you through the process of voluntary liquidation and help you choose the right liquidator who will work with you – not against you – when your business enters liquidation.
Dealing with Liquidators
Once appointed, liquidators and administrators have one goal – recover debt for the creditor. They are often belligerent, harassing, and have little (or no) regard for the welfare of former owners and directors. We step-in and act on your behalf to prevent liquidators from making your life hell.
How To Deal With Insolvency
- Can I Still Run My Business?
The simple answer is: No. If your business is insolvent and you can’t pay your debts to creditors, suppliers or staff when they fall due, then your business is insolvent and you should stop trading and get professional help from Doug Constable Group immediately.
- What Happens if I’m Insolvent?
Get help! Putting off getting professional assistance is a sure-fire way to ensure the worst happens. If your business is deemed insolvent, it’s vital you obtain expert advice on what your rights and obligations are, and how you can protect your assets from creditors before liquidators get involved.
- Is Insolvency The Only Option?
Absolutely not! At Doug Constable Group, our caring and professional team of advisors and consultants know how to cut-through the chaos and find a workable pathway to business recovery or alternative to corporate insolvency. Whatever your situation, if there’s a way for you to practically and sensibly avoid insolvency – we help you get there.
Contact DCG for a no obligation, free chat about finding the right solution for your business.