Options For Clients
Options such as share sales, business and asset sales, inward investment, refinancing, repositioning, cost reduction, and informal agreements and arrangements with creditors are always considered before formal insolvency procedures. Where feasible,in order to minimise costs, detailed further work is left to debtor and director clients, and IP Services Ltd confines its involvement to provision of advice at crucial points in the resolution process.
Informal agreements and arrangements with creditors are often not practically feasible, whereupon IP Services can arrange to have settlement proposals submitted to creditors under the following formal Insolvency Act 1986 procedures:
- Individual Voluntary Arrangement, or Partnership Voluntary Arrangement, for individuals
- Company Voluntary Arrangement, or Company Administration for Limited Companies
IP Services Ltd will not recommend formal arrangements unless they are in the best interests of clients as well as creditors.
It is sometimes necessary to cease trading and to realise and distribute assets in accordance with legal requirements and priorities. IP Services Ltd can deal with this through the medium of Creditors Voluntary Liquidation or Compulsory Liquidation and Bankruptcy of individuals. By judicious planning, loss of asset value and personal hardship can be minimised without prejudice to creditors.
