As the economic environment evolves rapidly, businesses are left to deal with complex uncertainties and market turbulence. Additionally, challenges may manifest through internal or shareholder disputes. When such challenges occur, we are able to assist in both an executory and advisory capacity.
Whatever the cause of distress, our team is able to formulate and execute plans with a view to restoring stability to ultimately deliver value. We have the necessary experience and skill-sets to rapidly identify root cause of issues, formulate and implement complex turnaround or recovery strategies, whilst conducting detailed stakeholder management. We advise companies and creditors across all industry sectors and business sizes.
Financial difficulties are very real problems that are faced by companies, even by those at the top of an economic cycle. In such situations, companies or creditors should explore the best possible options by taking into account the unique situation of their company, hence achieving optimal outcome whether through rehabilitation, restructuring or liquidation.
Our services include:
- Pre-Liquidation and Liquidation Services
- Receivership Services
- Judicial Management Services
- Scheme of Arrangement Services
- Independent Financial Advisor and Monitoring Accountant Services
- Mediation Services
- Individual Insolvency Services
- Investigations & Compliance
- Forensic Due Diligence
- Claims & Disputes
Pre-Liquidation and Liquidation Services
We are able to advise and act as liquidators in each type of winding up, for both solvent and insolvent liquidations, as follows:
- Compulsory Liquidations – where a creditor has applied to court, normally after the expiry of a statutory demand, we are able to act as liquidators of the company. As liquidators, we will ultimately be responsible to recover assets for the benefit of the Company’s creditors.
- Creditors’ Voluntary Liquidations – company directors and shareholders are best placed to recognise distress in their own entities, and have fiduciary duties owing to the company’s creditors. If insolvency can be identified early enough, it may be in the best interest to have the company placed in a creditors’ voluntary liquidation. Our role, as Liquidators, will ultimately be to recover assets for the benefit of the Company’s creditors
- Members’ Voluntary Liquidations – companies may become dormant and no longer serve a business purpose. Instead of allowing such a company to continue to soak up resources, such as for annual filing obligations, we are able to act as Liquidators with a view to returning capital to shareholder.
- Provisional Liquidations – in situations where an appointment of liquidator is required in a rapid manner, for example to protect the unauthorised dissipation of assets, we are able to be appointed as Provisional Liquidators in order to quickly take control of the company.
- Pre-Liquidation Services – we are able to advise in situations whereby companies wish to wind-down their operations prior to a liquidation scenario. We will also advise as to all the necessary formalities required to place a company into liquidation.
Receivers or Receivers & Managers protect the position of the creditor in a situation where the creditor or lender has provided security. The primary function of the Receiver will be the realisation of assets for the benefit of the secured creditor. A Receiver & Manager may be appointed to run the company as a whole.
In certain circumstances, the Court may make such appointments.
Judicial Management Services
Financially troubled but viable companies are sometimes given the chance to ‘rehabilitate’ through the protection accorded by Judicial Management provisions contained within the Companies Act, Cap 50. Such protection could help a company continue to operate as a going concern or allow a more advantageous realisation of the company’s assets rather than in a liquidation.
The company, company directors or company creditors may apply for Judicial Managers to be appointed. Additionally, in circumstances where they may be a risk of dissipation of assets, we are also able to be appointed more quickly as Interim Judicial Managers.
Schemes of Arrangements Services
We can help debtors to work out a Scheme of Arrangement under the Companies Act, Cap 50. Essentially, this is a binding agreement to restructure a company’s debts with the company’s creditors, and is sanctioned and supervised by the Court. There may be various advantages to undertaking a Scheme of Arrangement over a Judicial Management, for example, there is less stigma associated and the fact that the Scheme will bind creditors.
Independent Financial Advisor and Monitoring Accountant Services
Sometimes troubled businesses may not need a formal insolvency process, and with the appropriate advice, can be resuscitated. Our team of professionals can act as Independent Financial Advisors to assist companies in their negotiations with creditors and lenders, after undertaking a review of the business and its financials.
Where restructuring plans have been implemented, we can also take on a Monitoring Accountant role to review the company’s adherence to the plan.
Distress may not necessarily be through insolvency, and this is sometimes due to deadlocks at the board level. If required, we are able to take on directorship roles to assist and facilitate conflict resolution.
As the business environment increasingly gets more and more complex, it is more probable that disagreements will arise. We have qualified mediators who can assist in dealing with difficult and sensitive issues, and facilitating negotiation between parties.
Individual Insolvency Services
Where individuals are facing pressure from their creditors and lenders, we are not only able to assist in bankruptcy work, but also with other alternatives such as voluntary arrangements and advising as to the Debt Repayment Scheme.
Investigations & Compliance
Our highly trained professionals assist organisations in instances of alleged fraud, bribery and other forms of misconduct. We work with the authorities, regulatory agencies, in-house counsels and lawyers.
We conduct investigations with wide ranging matters including U.S. Foreign Corrupt Practices Act, U.K. Bribery Act, including, employee and business misconduct. We employ advanced forensic technologies to assist in our assignments to quickly gather facts and evidence to assess the depth of the issues at hand and to manage the relevant stakeholders in the organisation.
We assist lawyers in evidence gathering and analysing data sources to uncover patterns and anomalies to present our findings in legal proceedings.
Further, we work with companies and their compliance teams and in-house counsel to tailor the compliance program and define risk tolerance. We can also provide training for organisations to help create an ethical culture based on honesty and integrity to improve business processes and performance.
Forensic Due Diligence
We assist organizations and legal counsels in identifying and mitigating financial, operational and reputational risks inherent to merger and acquisition transactions. We have substantial experience in anti-corruption due diligence, both pre and post-close, as well as related investigations and compliance matters.
We have extensive experience and capabilities to address potential issues in transactions across all geographies and industries.
Claims & Disputes
We help companies and their legal counsel to prepare the calculations, analyses and strategies required for complex commercial disputes. By advising on the financial aspects of contracts and deals that often give rise to disputes, we also help reduce the risk of future problems before the deal is even signed.
We support companies in effectively presenting their position on financial and commercial matters in arbitrations, court proceedings and other alternative dispute resolution procedures. We provide robust, unbiased, independent expert testimony and opinions on a range of specialized matters that are critical to the outcome of disputes, by bringing together deep forensic competencies, sector insight and our extensive cumulative experience.