CBW Recovery

Placing a company into administration provides breathing space, free from creditor pressure, for a strategy to be put in place. All outstanding or future legal action by creditors will be halted, while the administrator is appointed to take control of the company to negotiate the best outcome for the creditors.

Bankruptcy is a formal insolvency procedure, instigated by a creditor or the debtor, when an individual is unable to repay their debts. Following a bankruptcy order made by the court, we can act as a trustee for creditors, or as an interim receiver pending hearing of a bankruptcy petition.

Insolvency might not always be the only option for a business. We specialise in guiding businesses through financial challenges, offering strategic advice and practical solutions for turnaround.

While often a difficult choice, it's often best not to find yourself stuck in a sunk cost fallacy. When insolvency does hit, liquidation can prevent tensions from rising with creditors, relieving pressure from all parties.

CVA provides the opportunity for a company to negotiate a legally binding repayment plan with outstanding creditors. These will typically last between 3-5 years, as a potential alternative to administration or liquidation. This can result in some debt being written off, with the remainder paid back through affordable and sustainable monthly repayments. This allows a company to continue to trade during this time, allowing it to use future profits to pay existing debts.

Compulsory Liquidation is a formal insolvency procedure, instigated typically by a creditor, the company, or a director(s), when a company is unable to repay its debts. Following a statutory demand, a winding up petition is filed at court. At a subsequent hearing, the court will consider making a winding up order if appropriate, which would shut down the company.

A receiver is appointed by the court to take control of assets or property of a party, typically when a company is in financial distress or insolvent, or there are disputing parties. The receiver's role is to manage, protect, and potentially sell the assets to repay creditors. The receiver acts as an impartial third party, ensuring that the interests of creditors are safeguarded.

When wanting to end an insolvent company a CVL is a quick and effective option, ensuring debts are paid to the fullest extent possible, with the remainder being written off. This method can help relieve owners of the burden of trying to ensure creditors are paid out without bias and in the legally correct order.

Trustees of defined benefit pension schemes have a responsibility to review their employer’s covenant, as set out in The Pension Regulator’s Code of Practice. This is a daunting task as trustees must form an objective assessment of the employers’ financial position and be well prepared when negotiating to ensure that any shortfall is eliminated as quickly as the employer can reasonably afford, without prejudicing their ability to trade.

We can assist pension scheme trustees and their advisers in dealing with covenant assessment issues. Our services fall into three categories: the covenant review, negotiating with the employer and follow-up services.

A legally binding agreement between the debtor and creditors. An IVA affords the insolvent individual a chance to reorganise their financial affairs to the satisfaction of all parties and can be a potential alternative to bankruptcy. The IVA will often last a total of 5 years and will require regular payments throughout. It will not protect your credit score but can protect certain professional licences and roles.

When someone has died with greater unresolved debt and liabilities than their assets, the estate must be dealt with properly otherwise the estate’s personal representative can become personally liable for the debt. Typically in this case the creditor will apply for the estate to be death within bankruptcy under an IAO (Insolvency Administrative Order).

Cross-border restructuring and insolvency requires navigating multi-jurisdictional challenges, while assessing potential risks and identifying strategic opportunity.

Law of Property Act (LPA) Receivership is the process used where a lender appoints a LPA Receiver, under the provisions of a charge, to recover the loans secured against property in England and Wales. The primary objective of the receiver is to act in the interests of the secured lender and recover all owed monies as quickly and efficiently as possible.

The professional way to close the doors and start your next adventure. When closing down a company its best to leave no outstanding matters to haunt whatever you choose to do next. MVLs are a tax efficient exit for shareholders.

Managing a charity or not-for-profit organisation in the current economic and geo-political climate can leave Trustees feeling the strain of financial pressure with increasing costs, declining government grants and public donations.

Our team has considerable experience working in the charitable sector providing confidential and strategic advice to Trustees on managing a charity through financial distress. Early engagement with our team often allows us to explore innovative recovery strategies ultimately promoting solvency and the beneficiaries of the organisation.

A Partnership Voluntary Arrangement is to be used if the partnership is predicted to return the profitability in the near future therefore the debts can be paid off over time. This is a legally binding agreement between the partners and the partner’s creditors.

Services can include: liaising with office holders of insolvent companies; negotiating settlement with debtor companies and individuals; guidance regarding bankruptcy and winding up petitions.