Businesses facing financial pressures require effective advice and prompt action. RG Insolvency are experienced in delivering comprehensive services tailored to each client. Our priority is to recover businesses where viable and maximise value for all concerned. Click on the services below to find out more.

Administration is a useful procedure for companies which appear to be viable (at least in part) as a going concern.

It is used as a rescue tool for insolvent businesses, allowing continued trading with a view to the sale of the business and/or its assets as well as potentially saving jobs.

Entering into administration can be done very quickly. The appointment of an administrator can be made by the Court, a qualifying floating chargeholder, the directors, the company or by one or more creditors.

The administration procedure usually lasts for a maximum of 12 months and is followed by an exit strategy (usually liquidation, dissolution or a voluntary arrangement).

A company may enter into administration with the aim of:

1. rescuing the company as a going concern; or
2. achieving a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being in administration); or
3. realising property in order to make a distribution to one or more secured or preferential creditors.

A company in administration is automatically protected from creditors commencing or continuing legal action against it, known as a moratorium.

A ‘pre-pack’ administration is where a purchaser is found for the business and/or its assets prior to the administration and a sale is effected immediately upon, or shortly after, the appointment of an administrator.

RG Insolvency will advise you on the administration procedure and the effects on the company, its creditors and the directors.

Call us now on 020 3603 7871 to discuss your options.

The CVL procedure is the most popular mechanism for closing down and winding-up a company that is insolvent and is unable to meet its liabilities as and when they fall due. The procedure is used where a rescue in not viable.

A CVL is initiated by the director(s) of a company who, with shareholders, nominate an Insolvency Practitioner to wind up the insolvent company. Creditors formally make the appointment at a virtual meeting of creditors, usually held within 2-4 weeks of seeking advice.

RG Insolvency will assist you in the preparation of the company’s statement of affairs (effectively a balance sheet), together with a report to creditors outlining the company’s position.

The liquidator must be a licensed Insolvency Practitioner who will dispose of all company assets and share the proceeds with creditors in accordance with their adjudicated claims and priorities.

The liquidator will also report on the conduct of the directors in relation to the demise of the company. Directors must be mindful at all times that if their company is struggling, they should not continue to trade whilst knowingly insolvent, unless they are very confident that the company’s fortunes will change.

RG Insolvency will advise you of all your options, your responsibilities and the consequences of the CVL procedure.

Call us now on 020 3603 7871 to discuss your options.

An MVL takes place when the director(s) swear a statutory declaration stating their belief that the company has sufficient assets to be able to pay all of its creditors in full (together with all costs and statutory interest) within 12 months.

This usually takes place when the director(s) of a company believe that the company is solvent and no longer wishes for the company to trade.

The statutory declaration will state that the directors have made a full inquiry into the company’s affairs. The declaration will include a statement of the company’s assets and liabilities as at the latest practicable date before making the declaration.

Call us now on 020 3603 7871 to discuss your options.

A CVA is a legally binding agreement between a company and its creditors. It is often in the best interests of an insolvent company’s creditors and can allow the company to continue trading under the control of its directors and avoid redundancies.

The company proposes an agreement with its creditors detailing how its debt is to be repaid. The CVA proposal will be based on the level of debt the company can reasonably afford to pay over a given period and may provide for partial or full repayment.

The CVA requires the approval of at least 75%, in value, of the voting creditors. If approved, the CVA will bind all creditors who were entitled to vote.

RG Insolvency are experienced in providing you with practical advice on proposing a viable CVA and dealing with issues such as ongoing funding and future profitability.

RG Insolvency will assist you in the preparation of all documents and deal with your creditors directly.

Call us now on 020 3603 7871 to discuss your options.

A company enters into compulsory liquidation following a Court order for the company to be wound up (a ‘winding-up order’). This follows a petition to the court by an appropriate person, usually a creditor of the company, who is owed more than £750.

An Official Receiver is appointed liquidator of the Company and may decide to pass the case over to an Insolvency Practitioner, usually where there are assets to realise.

If you are facing a petition for winding-up, or the threat of one, GR Insolvency can advise you on the best course of action. Other options are available to avoid a winding-up order being made.

Call us now on 020 3603 7871 to discuss your options.

With many thousands of businesses facing insolvency,  comes many more creditors having to deal with the various notices and paperwork. Many creditors do not have the time, inclination or staffing expertise to manage these documents. Here at GR Insolvency, we can do this all for you and help to maximise your recoveries from the insolvent individuals.

If you receive notice of an insolvency procedure as a creditor, simply contact us immediately and we will take it from there. The sooner you make contact, the greater the chances of maximising recoveries for you. We will check the status of the insolvency process, see if an Insolvency Practitioner has already been appointed, complete and file all required paperwork, review any proposals made, deal with dividend prospects and payments and provide regular updates.

Call RG Insolvency now on 020 3603 7871.

Are you having cashflow difficulties and struggling to make payments to HM Revenue & Customs (HMRC)? RG Insolvency have experience in dealing directly with HMRC in agreeing a Time to Pay plan for businesses (typically over 2-12 months).

This gives you the breathing space you need to concentrate on your business and helps you avoid formal insolvency proceedings, which would otherwise be forced upon you. You will need to demonstrate an ability to meet any payments agreed as well as any ongoing liabilities that accrue.

Call RG Insolvency now on 020 3603 7871 to discuss your issues and see how we can help.