Business Rescue and Recovery Basics

Business rescue, insolvency / company law disputes under new Companies Act and contractual disputes have kept dispute resolution lawyers busy this year. Luckily they have acted quickly to the needs of struggling companies, providing their customers with the appropriate advice.

The aim is to help aid companies from the worry, end the sleepless nights and plan how they can solve business cash flow issues. They also stand by you during the tough time with help and advice, regardless of the outcome – even if closing your business is the only option available.

What do Business recovery / rescue organisations do?

Business rescue organisations offer a place for companies, sole traders and partnerships to turn to for support in times where their trading is not meeting their necessary outgoings. The principles they work on are of: Rescue, Recovery and Renewal.

Business Rescue Professionals also provide solutions for difficult tax arrears or situations where financiers like banks withdraw their support. Longer-established services can even sometimes gain access to Commercial Finance secured against assets, property or invoices that may be outstanding or that you are expecting future payment for.

Business Recovery Specialists provide advice for businesses given the Chancellor’s budget in the UK this year. George Osborne’s budget brought significant changes to what were the current rates for business tax. Furthermore, it put in place groundwork for future changes to the UK business taxation system in its entirety. We gave our comments after the government announcement that liquidations grew by 0.3% in relation to the previous quarter, and almost 15% over the same period last year.

Business Recovery Experts provide a trusted outlet of on-going support and advice. From addressing company issues, over to complete recovery and stabilisation. Some solutions are often short-term, yet some can be longer; it depends on each individual companies circumstances and what said experts consider to be the best solution going forward.

The approach involves gaining a full understanding of each individual business and the problems it faces. Every case is unique and requires a tailored approach to ensure the best possible outcome given the circumstances.

If any of the above applies to your organisation, don’t leave it too late. Contact recovery / rescue professionals regarding advice about your business cashflow issues. If you need help understanding things like liquidation, administration, receivership, company voluntary arrangement (CVA), creditors voluntary liquidation (CVL), pre-pack administration or winding up petitions – start the recovery process as soon as possible!