| IP Services is committed to targeting the best outcomes from difficult
circumstances. |
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Initial briefing meetings are used to provide an advice service to clients,
not as an opportunity to obtain income generating
work. Clients are often sufficiently empowered
by knowledge and understanding gained at one meeting
to deal with their problems without any further
involvement by IP Services Ltd. Meetings can be
held outside normal business hours. |
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Information provided by clients is reviewed, projections are prepared,
if required, and recommendations are made, which
are designed wherever possible to salvage businesses
and employment, and to minimise loss of asset
value and of income potential in the interests
of all parties having a relevant financial interest. |
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Options such as share sales, business and asset sales, inward investment,
refinancing,repositioning, cost reduction, and
informal agreements and arrangements with employees and creditors
are usually considered before formal insolvency
procedures. Where feasible, in order to minimise
costs, detailed further work is left to debtor
and director clients, and IP Services Ltd confines
its involvement to provision of advice at crucial
points in the resolution process. |
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Informal agreements and arrangements with creditors are often not feasible
because too many creditors are involved, whereupon
IP Services can arrange to have settlement proposals
submitted to creditors under the following formal
Insolvency Act 1986 procedures: |
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Businesses
and related employment can sometimes be preserved
by a going concern transfer with the agreement
of creditors. |
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If
it is not possible to formulate sensible settlement
proposals, it will probably be necessary to cease
trading and to realise and distribute assets in
accordance with legal requirements and priorities.
IP Services Ltd
can deal with this through the medium of
Creditors
Voluntary Liquidation
or Compulsory Liquidation of limited
companies and Bankruptcy of individuals. By judicious
planning, loss of asset value and personal hardship
can be minimised without prejudice to creditors. |
IP Services Ltd
can also handle solvent Members Voluntary Liquidations
in conjunction with independent tax advisers.
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By dealing exclusively in the area of Business Rescue and Insolvency and
by not undertaking general practice accountancy
or tax work, IP Services Ltd does not compete with but rather complements the work of accountants and
other business advisers. |
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