Receivership and Liquidation
We provide insolvency services especially in receivership, liquidation and turnaround management of organization having going concern issues. Specific insolvency services we offer include:
Administrative Receivership
The service involves taking over the charged assets of insolvent organizations, identifying their problems and causes of insolvency with a view to turning them around and recovering debt owed before handing over to the owners. It also includes the appointment of Receiver and Manager. Where the business could not be managed due to lack of working capital or any other fundamental reasons, the charged assets are then realized to pay off the secured creditors.
Liquidation
The service involves winding up a company completely and distribution of proceeds to creditors and contributories. This may be brought about by compulsory winding up order by the court, members’ voluntary winding up or creditors winding up.
Turn around Management
Our services are primarily aimed at corporate renewal through analysis and planning to save companies with going concern issues and return them to solvency and profitability. The plan may or may not involve bankruptcy filing which once approved by the management, are implemented and continually reviewed to monitor the progress and ensure that the company returns to solvency.