CORPORATE RESTRUCTURE - INSOLVENCY
When a Business is insolvent or not viable in its current form, often a formal insolvency process will be unavoidable. Many businesses can simply be victims of market conditions and it’s important you take independent professional advice to minimise any risk of personal liability.
At Keenan CF we have extensive experience on working on some of Northern Ireland’s largest and most complex insolvency assignments. We offer a full suite of services as set out below:
- Administration – A formal insolvency process where the Company is placed under the control of a qualified Insolvency Practitioner. An Administrator has extensive statutory powers to continue to trade the business, often with the objective of achieving a going concern sale;
- Company Voluntary Arrangement (“CVA”) – Restructuring a Company’s unsecured debts through a formal arrangement with Creditors. We have excellent relationships with key creditors and can advise on submitting a Proposal that is fair to all involved and is likely to be implemented in full;
- Receivership – A mechanism used by a Secured Creditor to take control of secured assets and realise value in order to pay down debt.
- Liquidation – An insolvency process designed to bring the life of the Company to an end through an orderly sale of assets and distribution of funds to Creditors.
Our senior team can be mobilised quickly to secure assets and advise on maximising recovery to all stakeholders.