An open letter to Directors
Thank you for visiting this website. You are here for a reason so let me explain a little more about what I can do for you and your valuable business.
In terms of my background, I have spent over 40 years in the insolvency and turnaround business, including 12 early years as a regulated Insolvency Practitioner and decades afterwards as a Turnaround Advisor and finance broker so having been on both sides of the fence I am in an ideal position to help directors whose businesses encounter financial difficulty.
I also have a very business friendly attitude, years of experience in rescuing Companies and their businesses, including some of my own, access to a variety of funding sources and a top panel of valuation agents, lawyers and Insolvency Practitioners to deploy when necessary.
The UK economy is itself in turmoil due to the Coronavirus/COVID-19 pandemic and this is spilling over into SME marketplace as businesses have been placed into lockdown. Government measures are helping, particularly the job retention furlough scheme, but this can’t last forever and over the next few months many SME balance sheets will fill with CBILS, Bounce Back loans, deferred tax debts and trading losses.
It is therefore important that Directors are aware of the alternatives open to them if the need arises and that’s where I come in.
First and foremost, I act for you, not the banks, HMRC or suppliers and I will guide you through the complex process of protecting your Company, managing any creditor pressures as they develop and, if appropriate, applying either for a Company Voluntary Arrangement binding your creditors into a deal for a partial or full repayment scheme or a protective Company Moratorium a new process designed by Government to provide struggling businesses with a formal breathing space to pursue a rescue plan which leaves Directors in control and stops any creditor action in its tracks.
If it becomes obvious that neither of those processes can work and the Company is too far gone, I can help you to safely Prepack transfer the business and assets of the old Company to a fresh restart Company owned and run by you with the same name as it has now but without the debts.
If taking the Prepack route is the best option the Old Company will require the engagement of a regulated Insolvency Practitioner to act for it. I will introduce a suitable Insolvency Practitioner and liaise with them to offer explanations for any transactions that are under query and reconcile any outstanding issues.
Although they are all regulated professionals, Insolvency Practitioners differ in their attitudes, strategies and tactics so that choice is a very important one and I will have that choice covered for you.
I will also help you to mitigate the probabilities that you will be targeted for Directors Disqualification by dealing promptly and properly with the initial paperwork and subsequent responses to the Insolvency Service if the targeting reaches that stage. Each year over 1,200 directors from around 17,000 failed Companies are disqualified so it is worth a little effort to avoid being amongst them and there are simple measures that Directors can take that will help.
I will advise on the whole spectrum of your needs when business difficulties have hit and I will be with you before, during and after any process to minimise risks and maximise successful outcomes, something that I have delivered for my clients on hundreds of past occasions.
My fee will be agreed between us in advance and has never been an issue in past assignments. That won’t change for you.
You have nothing to lose and everything to gain so, for a free no obligation telephone or screen conversation and a follow up meeting if you wish to take it forward, contact me on:
I look forward to hearing from you.
David Nisbet Turnaround