I P Services Limited Licensed Insolvency Practitioner
9 Woodhill Road Portishead, Bristol BS20 7EU
Telephone 01275 843555 and Fax 01275 843355
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About IP Services
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.
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.
Options such as share sales, business and asset sales, inward investment, refinancing,repositioning, cost reduction, and informal agreements and arrangements with creditors are always 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.
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:
Individual Voluntary Arrangement,or Partnership Voluntary Arrangement, for individuals.
Company Voluntary Arrangement, or Company Administration, for "limited companies".
Businesses and related employment can sometimes be preserved by a going concern transfer with the agreement of creditors IP Services Ltd can also handle solvent Members Voluntary Liquidations in conjunction with independent tax advisers.
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.
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.
Peter O'Duffy F.C.C.A., R3, Licensed by ACCA, 1 Woodside Place Glasgow G3 7QF