Case Study:
A Waste Management Company

CORPORATE INSOLVENCY

Although they feared the worst, we showed our client how they could overcome their financial problems and guided them towards a brighter future.

Thanks to our intervention and professional expertise we were able to guide them through these difficulties, help them secure the future of the company, safeguard the jobs of their employees, satisfy their creditors and point the way to a promising future.

This is what we achieved

Although they were on the brink of financial disaster we worked hard on behalf of our client to resolve the massive problems they faced.

  • After a thorough analysis of the company’s economic status we came up with a sound financial plan.
  • Our main proposal was a Company Voluntary Arrangement (CVA) that was approved and accepted by all the company’s creditors, including HMRC.
  • This strategy and the restructuring of the unsecured debt ensured that the company directors retained their business.
  • Saving the business also protected the jobs of the fifty employees.
  • Although the directors were not in a position to buy-back the assets through a ‘pre-pack’ administration, we were able to identify a means of securing valuable finance for the company.
  • The company will now be able to pay all its creditors, including HMRC, in full over a manageable period of time.

“We were delighted that our professional service, supported by our long-standing experience and expertise was able to help our client emerge from a black hole of despair to see a bright new future for the company.”

Our client could not be more delighted

To put it bluntly, considering the situation they found themselves in, the directors could not see any other outcome other than closing the business doors. They would have lost their business, their employees would have lost their jobs and their creditors would have lost their money.

Fortunately at RPG it is a scenario we have encountered on numerous occasions. Our experience told us that there could be another outcome and a positive result. So on investigating the facts and identifying a viable means of settling their obligations, we proposed restructuring the debts with a CVA. We spoke to all the creditors, including HMRC on behalf of our client, explained our strategy and stressed the likely outcome. The creditors, including HMRC, approved our proposed plan.

Today, instead of facing a bleak future, everyone at the firm – the directors and employees – is looking forward to the future. At the same time all the company’s creditors are looking forward to having their debts settled in full under a formal structure.

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Corporate Insolvency

Corporate Insolvency

Only when all other options have been explored will we consider formal insolvency procedures. Even then we will work tirelessly on your behalf to manage the most appropriate arrangements.