This procedure is generally appropriate where:
- There are insufficient assets to pay all creditors in full
- There is no obvious need to preserve a business by continuing to trade
- Other insolvency options are not suitable
An Insolvency Practitioner is appointed to dispose of assets, which in certain cases could involve completing negotiations already started for the sale of the business or seeking a purchaser, but timescales would be short.
This is the most obvious procedure if the company is insolvent, there is no prospect of obtaining a premium value for assets from a going concern sale and a cost effective winding up is required to distribute money to unsecured creditors.
KIS can provide you with prompt and constructive advice if you are experiencing financial difficulty or simply need to explore financial options.
The sooner you seek advice from an experienced specialist, the greater the opportunity to reverse financial difficulties or resolve monetary issues.
KIS provide initial exploratory consultations, held at our offices, which are undertaken free of charge and overseen by one of our two experienced and licensed Insolvency Practitioners.
Act now and contact KIS today to arrange a consultation.
Tel: +44 (0)208 441 2000
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