If a business is being pressed by creditors or regulators and correction or restructure are not available options, it's essential directors take advice on their position and their obligations under the law.
Not surprisingly, this is unfamiliar territory to many – certainly no one intends to arrive at this position and the realisation can be uncomfortable. But correct action, promptly taken, will help to make the best of any retrievable value in the business and the requisite protection.
In some cases this can lead to a better outcome than principals and stakeholders might have dared hope for.
Baker Tilly's licensed Insolvency Practitioners are knowledgeable and well-versed in the administration of trading bodies and asset protection.
Our negotiation skills and experience in relationship management enable us to deal with all issues when handling the technical aspects of a liquidation or receivership.
When necessary we can step in at short notice to act as Administrator, Administrative Receiver, Supervisor or Liquidator.
Though the circumstances may be difficult, our professional approach will serve the interests of damage limitation and reconstruction, managing exposure to loss and realising value where possible.