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Out of the Ashes
The common perception is that when
a company or business goes into insolvency
it is the end of the line not only for
the business but also for the employees.
However, we have a track record of
assisting in the sale of businesses out of difficult situations.
Recent examples have included:
- A South Coast chain of coffee
shops.
- A contract decorating company with
a turnover of £1.5m undertaking
work for some of the major house-builders.
- A kitchen and bathroom installation
business in Southampton.
- A notable local concrete company.
- An international furniture removals business.
- A Bournemouth nightclub.
- An old established firm of solicitors.
- A marine equipment and furniture
manufacturer.
- An inflatable building
manufacturer.
- An established installer of
drylining and partitioning.
At RogersEvans we see every insolvency
situation as a
genuine opportunity to rescue all or parts of the business
as a going concern and to preserve employment
- all it takes is a bit of determination,
empathy and a degree of creativity.
Alyson Minton & Debbie Toothill
Leaps and bounds
Continuing the run of exam successes
being enjoyed by our team, Debbie Toothill, who joined us from KPMG, has
successfully passed the latest exam at
advanced level in AAT and is now
completing her final year to attain her
Diploma.
In addition, Alyson Minton is rapidly
progressing in her chosen career to
become an IP and has just passed her
Certificate of Proficiency in Insolvency
(‘CPI’) exam. She is now working towards
the JIEB qualification.
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Never
Never Land
Spending on the Never
Never is continuing to increase with
a recent report by Datamonitor revealing
that the UK is now responsible for a
third of all unsecured debt in western
Europe.
Just today alone in the UK:
- Consumers will borrow an additional
£313m
- 330 people will enter into an IVA
or be declared bankrupt
- Banks and Building Societies will
handout £1bn in Mortgages
- £82m will be spent on-line
- 24.3m transactions worth £1.3bn
will be spent on plastic cards.
Terry Evans
Actions commended by the Court
We like to think
that our strengths include being able
to act in difficult situations with
compassion, determination, understanding,
creativity and commercial realism.
Our approach in this
regard was recently praised by Mr Justice
Mann in a case at the High Court in
London where we were seeking an Administration
Order to protect and secure the survival
of a local business which was the subject
of winding-up proceedings, by seeking
an Order reversing out of the Liquidation
and into an Administration.
He commended the
actions of Terry Evans saying that:
"…..not every liquidator would
necessarily have taken that course……the
liquidator is to be commended for the
steps that he has taken …..getting
[the clients] out of their hole".
The business is still
trading. |
