RESTRUCTURING & RECOVERY

If you or your business are experiencing financial difficulties, we can advise on your best course of action and options available, including your duties as a Director and whether a rescue is possible for your business.

Duncan

Duncan Raggett

Restructuring & Recovery Director

Contact Duncan Meet the team

Our Accreditations

Who we can help

  • CREDITORS
  • DIRECTORS
  • INDIVIDUALS
  • SHAREHOLDERS
  • UK & INTERNATIONAL BUSINESSES

How we can help

  • ADMINISTRATIONS
  • ADVISORY WORK
  • BUSINESS RESCUE & RECOVERY
  • COURT LIQUIDATIONS
  • CREDITORS’ VOLUNTARY LIQUIDATIONS
  • DEBT RECOVERY & CREDITOR SUPPORT
  • MEMBERS’ VOLUNTARY LIQUIDATIONS
  • PERSONAL INSOLVENCY
  • STRIKE OFFS

WORKING WITH YOU TO FIND THE BEST SOLUTION

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Facing financial difficulties is never easy, but our support is focused on finding the best solution for you. The sooner you talk to us, the better the chances of turning things around; you’ll find us empathetic, supportive and determined to maximise the outcome for all stakeholders.

Not all our work involves distressed situations; we have extensive experience of Members Voluntary Liquidations (MVLs) and strike offs and will work with our corporate and personal tax teams, to advise on the most tax efficient route for the beneficiaries.

We also assist creditors with debt recovery and will strive to achieve the best results for them. We’ll minimise the technical jargon, keep you updated and help you feel more confident about the processes and your options.

CLOSING SOLVENT COMPANIES

When shareholders or directors are looking to cease to trade or close down a solvent company, there are two options: Members Voluntary Liquidations (MVL’s) or Strike Off.

Strike off may be appropriate for companies that have less than £25K remaining in hand, little or no creditors, and minimal tax matters to be resolved. Strike off is a quick process, and if there are no objections, the company will be dissolved two months from the date of application.

MVL is the solvent winding up of a company in order to distribute the company’s assets to the shareholders. An MVL may be appropriate for companies with more than £25K cash to distribute or have physical assets to be distributed directly to the shareholders. It also offers tax efficiencies for the shareholders. The Liquidator will deal with all matters related to the MVL, including any creditors, and  the company will receive HMRC clearance giving the directors and shareholders peace of mind. There is no limit on distributions, and we are focused on distributing the assets to the shareholders as quickly as possible.

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  • The knowledge and expertise within AAB's Taxation Department ensure that my company benefits to the full from available allowances. I would encourage likeminded companies to employ professional services such as those offered by AAB's tax team.

    Brian Gribble, Online Electronics Limited

  • The team have a commercial approach that adds value beyond the standard scope of services, we also benefited greatly from being able to draw on the technical knowledge and industry expertise within the wider AAB Group.

    Ben Leslie, Puma Private Equity

  • As a smaller sized business, it is a comfort to know that our payroll is being taken care of by the experts and we can concentrate on supporting other areas of our business.

    Barry R Moir, Superior-Wild Well Energy Services Limited

  • On announcement from the Government that IR35 changes were to be postponed, AAB were in touch instantly to discuss the best way forward and to assist with the Company’s communication to contractors surrounding this.

    Finance Director, Leading Oil & Gas Engineering Company

BUSINESS RESCUE & RECOVERY

If your company is facing financial distress, the earlier we get involved, the more options for rescue and recovery of your business will be available.  Depending on circumstances options may include:

  • Refinancing
  • Sale of the business and Accelerated Mergers & Acquisitions (AMA)
  • Moratorium
  • New Restructuring Plan
  • Company Voluntary Arrangements (CVA’s)
  • Pre-pack Administrations / Administrations

We will work with the directors, shareholders and all other stakeholders to come up with the best solution that maximises the outcome for all parties.

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FORMAL INSOLVENCY

A company is insolvent when its liabilities are greater than its assets or it’s unable to pay its debts when they are due. If you’re a director and believe your business is (or is about to be) insolvent, your obligations change from the shareholders to your creditors.

Administration

Administration is a formal insolvency process. The first objective is to rescue the company as a going concern. The Administrator can trade the company on whilst marketing the business and assets for sale. If a going concern sale cannot be achieved, then the Administrator realises the company’s assets for the benefit of the creditors.

Liquidations

If there is no real possibility of a successful turnaround, then the usual result is the winding up of the company via liquidation. There are two types of liquidation process, Court Liquidations and Creditors’ Voluntary Liquidations (CVL’s).  In both processes, the Liquidator’s main duties are to realise the assets, liaise with and assist creditors, assist employees, wind up the company’s tax affairs and undertake statutory investigations and all statutory work, adjudicate creditor claims and distribute funds.

Personal Insolvency

If you are facing personal debt and money worries, there are many options available to you.  Talk to us as soon you can; we understand the uncertainty is often the most worrying aspect, and our licensed Insolvency Practitioner and our dedicated team will explain clearly and sympathetically what’s involved.

Get in touch

OUR ADVISORY SERVICE

If you know your business is struggling or you’re a creditor or stakeholder worried you’ll lose your money, talk to us now. By getting to grips with the issues early on, we’re better placed to find a solution.

Companies

Our experience means we can advise on a wide range of possible solutions, such as restructuring the business, refinancing, recapitalising or accelerated M&A. It may be that simpler options – reviewing your systems and improving cashflow, instigating cost-savings to increase profitability or just communicating more closely with customers and creditors – will get you on a secure footing once again.

Directors

We can advise you on your duties as a director of an insolvent company or distressed business to ensure you are acting in the best interests of the creditors and to avoid any potential personal liability or action against you.

Creditors and stakeholders

We assist creditors with debt recovery and advise on an appropriate strategy and action in order to achieve the best recoveries possible.

For lenders and floating charge holders, we can undertake Independent Business Reviews which will give a clear view of whether a company is already insolvent, close to insolvency or if it’s still viable and negotiations would be worthwhile and evaluate all available options.

MORE DETAILS

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