Insolvency Practitioners (IP’s) have a duty to assist individuals and companies that are experiencing financial distress. They have a legal obligation to consider all options available to them and are required to act in the interests of creditors.

Having a professional insolvency practitioner on board as soon as possible can significantly reduce any problems that might occur and enable the realisation of assets. They will liaise with the company’s accountant, to ensure that they have all books and records including prior accounts which are crucial in painting a full picture of the company’s financial position and help them to understand the current situation.

Choosing the Right Insolvency Practitioner: Key Considerations

IP’s may be appointed as liquidators in shutdown liquidation cases, as administrators in MVL and pre-pack administration cases or as nominees and supervisors in company voluntary arrangements. In these situations, the main focus is on attempting to save the business. This is done by restructuring the company or putting it into administration. In administration cases the IP will take control of the company and liaise with company creditors to keep them up-to-date with proceedings, showing how a rescue can be achieved in a much quicker time frame than liquidation.

At Chamberlain & Co our team of experienced professionals are very well versed in the process and can work with you quickly to produce a strategy that will resolve your problems. Our first meeting is free and can be held face-to-face or over the telephone. All meetings are discreet and our clients’ details are kept confidential at all times.