Our Services

Insolvency

The key to avoiding insolvency is to seek professional help as soon as the first signs of difficulty appear.  The experienced professionals at Walker Davey Ltd are able to assist in identifying problem areas, and suggest solutions to improve the position of the company.  Timely and expert advice may be able to save your business from liquidation or receivership.

Companies in order to borrow money may give security against plant and equipment, the creditor then has an interest in the assets nominated.  Should the company default on payments the creditor can then appoint a receiver to collect and sell the nominated assets to retrieve the full amount of the loan.  Assets and equipment not secured remain the property of the business.

Sometimes the secured assets are essential to the operation of the business and trading is impossible without them.  This can lead to the company being forced to liquidate.  Liquidation may be voluntary or by court order where it is deemed the company is unable to pay its debts as they fall due. 

A liquidator (e.g. Walker Davey Ltd or Official Assignee) is then appointed to assess the financial situation and to sell the assets for the benefit of the creditors.  Should a company go into liquidation it ceases business.

If your business is struggling under financial and operational difficulties, proactive and insightful action is vital for avoidance or minimisation of the possible consequences.  Contact us today for an appointment and expert advice.

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