WHAT WE DO – HOW WE DO IT

As pioneers of the rescue culture, Finn Associates formed the businesscare division in 1998. If a business has already passed the point of no return at the time of our initial involvement, the licensed insolvency practitioners from Finn Associates would accept appointment as office-holder in any ensuing liquidation, with a view to maximising recoveries for creditors. In instances where directors have given personal guarantees in respect of loans or goods purchased, the level of recovery could prove crucial in preventing any knock-on effect from bringing about the bankruptcy of the guarantor.

Where a business remains on the right side of the point of no return, the services of a licensed insolvency practitioner may still be required to enable a reconstruction to take place within the relatively safe environment of a formal insolvency procedure.

For SME's that procedure is likely to be a company voluntary arrangement (CVA) or a “fast-track” administration, although it is sometimes possible to agree an informal moratorium with creditors, providing a “breathing space” in monthly outgoings in order to leave the business with sufficient working capital and cash flow to carry out the required reconstruction. Details may be found on the following pages of;

•  An informal moratorium
•  A CVA
•  Administration
•  Administrative receivership
•  Liquidation