Licensed Insolvency Practitioner In North London
We are a leading Insolvency Practitioner in North London involved in helping with the financial problems of individuals, companies, and organisations in the locality that find themselves in a state of severe financial difficulty.
Along with other Insolvency Practitioners in North London, we play an important role in ensuring the proper performance of our economy. We assist to deal with the smaller problems before they become big ones.
Detailed understanding of creditors’ rights and laws concerning insolvency procedures enables us to provide useful advice for directors fighting a company crisis and seeking to be done with debt.
If you are based in North London and facing serious financial difficulties there are a number of Liquidation practitioners who could help.
In North London, insolvency experts help both businesses and people deal with their financial problems and regain control over their finances through debt management, insolvency advice, and exploring other options.
As a business owner or person seeking financial assistance, it might be important to seek out the help of an experienced Insolvency Practitioner in North London. With our expertise and guidance, you could negotiate with creditors and it may even be possible to avoid formal insolvency proceedings. Whilst it is not always possible the aim is to get you back on your feet quickly so that you can confidently move forward with your life.
So if you run a company that is in financial trouble, it might not have to be the end for you. However, debts do not go away so you need to search for a solution and help is available.
A Company Director should seek out professional advice as soon as possible if you consider it likely that your business may wind up going through an insolvency process.
North London Office – Insolvency Practitioner
As a leading Licensed Insolvency Practitioner operating in North London, we specialise in providing insolvency options to small businesses and looking at the rescue opportunities for sole traders, individuals, partnerships and Limited Companies.
We regularly assist businesses in and around the following areas of North London locality seeking insolvency advice, Hendon, Finchley, Golders Green, Whetstone, Potters Bar, Barnet and Stanmore.
However, whether you are local to us or not it not longer matters before we are fully equipped to assist companies and individuals nationwide. We provide expert insolvency advice in simple and transparent communications. Of course, if you want all technical the details we can and will provide that to you as well. However, the advice we provide is to enable you to make a properly informed decision and move forward.
There is no shortage of options so do not despair. Liquidation is certainly not the only insolvency process available to a struggling company. Our Licensed Insolvency Practitioner has been dealing with business insolvencies for over 20 years. How can and will tailor our recommended solutions to your specific circumstances.
Insolvency Advice For North London Businesses
North London has a thriving business community and it is no surprise, particularly in view of the global pandemic that companies have had a challenging time, particularly those directly affected by the national lockdowns. Hospitality has been hit hard and the high street has seen the effects of reduced footfall.
Businesses facing financial trouble in North London therefore will need our assistance and we are here to help. The following types of insolvency procedures are available to businesses in North London:
Company Voluntary Arrangement
If your company is facing cash flow difficulties, but you believe your company has a viable core business, a Company Voluntary Arrangement (“CVA”) may be an option for you:
- The business can keep trading and you can remain in control of the day-to-day operations.
- Debts that are unmanageable can be written off with creditor approval
- Removes legal actions such as winding up petitions and CCJs
- Cash flow problems being alleviated
Typically, a CVA may last for five years but then the business should be removed of all existing unsecured creditors
Creditors’ Voluntary Liquidation
A Creditors Voluntary Liquidation (“CVL”) will be the only course of action appropriate for your business if it has become insolvent and can no longer trade out of its cash flow problems.
Due to the Company Director’s Duties and the risk of Director Disqualification, advice should ideally be sought as early as possible. The rules are there for a reason and should be complied with. That is why you should seek help now if you are concerned about your company finances and you are unsure of what to do. Taking advice early on will enable you to be stay out of trouble by:
- Dealing with all your legal obligations as a company Director.
- Enables you to close the company and stop trading.
- Insolvency Fees do not have to be expensive and can be as little as £1,499.
Administration
It may be possible to avoid insolvent Liquidation through a procedure known as Administration. Unlike business closure, its focus is on rescuing the company. It aims to enable the business to survive and hopefully thereafter thrive. However, sometimes to save a business it needs to be restructured and split up to retain the profitable core element.
The benefit of Administration is that it:
- Enables you to avoid a business Liquidation.
- Gives you a breathing space from creditors by providing a useful legal Moratorium that gives you time to plan a new future for the business.
- The company can continue to trade whilst any restructuring is being worked out.
Central to the function of Administration is rescuing the company as a going concern.
North London’s Insolvency Specialists
If your company is facing insolvency, it’s important to get professional assistance at the earliest point in time. Do not delay. The earlier the better to enable you to save as much of the business as possible. We have the expertise to help and support you through this period of time.
Ideally, if you speak to us as soon as financial difficulties arise it may well be possible to avoid insolvency procedures altogether. However, we are fully Licensed to accept appoints as Liquidator, Administrator, Trustee in Bankruptcy, Nominee and Supervisor should the need arise.
Expert pre-insolvency advice can be important for limited companies that are in a serious financial crisis. Trouble can arise if trading continues and the situation gets worse. We can deal with cases quickly to ensure that cases are not neglected and creditors are kept informed. Creditors need to be dealt with as part of the process. It is often helpful for an independent person to agree on a way forward that includes the considerations of creditors.
We can help you with our expertise no matter what your business financial concerns might be. You might be facing a short-term cash-flow crisis or more serious financial difficulty. Each case is very different but with an experienced Insolvency Practitioner, you can discuss matters with us free of charge. We can then determine the best way forward for you.
Business Rescue In North London
Business rescue is about returning a company to profitability to avoid Liquidation. It does not necessarily mean that there can be a complete recovery of the whole business. But it can be done if there is a profitable core business and creditors are addressed. There are a number of options available to structure this process such as a management buy-out or takeover of a distressed business.
North London Office
Moda Business Centre
Stirling Way
Borehamwood
WD6 2BW
Contact Us For A Free Initial Consultation
To help you deal with the financial crisis you are facing at our North London office we will look carefully at your situation to explore with you a plan of action to find a way forward to deal with the legal and financial issues of insolvency. We will find a solution for you. Our Insolvency Practitioner, Elliot Green, who is also our CEO is fully licensed. Where there’s Oliver Elliot there’s a way because we know insolvency inside out.
If your company is in the middle of a financial crisis please do not hesitate to get in touch with us and make contact. We can help and we will be happy to provide the following;
Time
We are all too happy to assist you, whether it is in person, by phone or via a virtual meeting such as on Zoom or Teams in order to help you your situation and explore the options available to your business.
Expertise
Following the initial consultation we can provide you with a summary of our conversation to give you in black and white the details of what was discussed and the plan going forwards.
Support
We will support you through the entire process from start to finish. We understand that is a critical time for you so we will be responsive and able to help during unsociable hours as well as during the normal working week.
