Resist Demands and Distraint

Restructuring Cashflow Accelerating payment demands and delayed receipts can push even a profitable business into insolvency.
To prevent this, we collect book debts in for you fast and fix new arrangements with creditors” .

A Statutory Demand gives only 18 days to pay the amount claimed, negotiate its withdrawal or apply to the High Court to avert a Winding Up Petition. We look to achieve voluntary withdrawal, but otherwise file an appropriate defence. We are often able to persuade Creditors to settle, as they face a large costs bill if they lose a legal action and may get nothing in a Compulsory Liquidation.

Preventing Distraint requires preparing a safe defence before any Bailiff attends. If you have assets that are not already protected by charges, we can often protect them from attachment by selling them into third party ownership so that you can negotiate settlement from strength .

Avert Winding Up Petitions

If you receive a Winding Up Petition, we act immediately to get it withdrawn, or its advertising postponed.

Our Insolvency Solutions team often STOP these actions, negotiate payment, or delay them until the Director can devise a controlled outcome If the Petition has already been advertised, we can overtake the Compulsory Winding Up by an urgent Creditors Voluntary Liquidation, or prepare a Defence Package for the Official Receiver, which explains conduct of the Director(s) favourably so as to avoid your being pursued for personal liability.

Phoenix

If your liabilities are too great to “trade through “, a final option is to ask us to close the current Company completely and transfer successfully, legally and seamlessly, to trade as a fresh Phoenix Company