Case Study 1: 75% reduction
Client’s Position: Our clients had given an £800,000 (plus interest and costs) guarantee and were being pursued for £855,000. Their company had gone into liquidation following a creditor’s petition. The bank had petitioned bankruptcy against our client before we became involved.
End Result: We were able to use our professional expertise to negotiate settlement for £200,000 of the debt amount including our fees.
Case Study 2: Top 5 Bank reduces PG by £80,000
Client’s position: Our client had been banking with this particular bank for 15 years and instead of a personal guarantee had given a legal charge over his home. The house was worth £650,000 with a liability to the bank of £120,000.
End Result: We investigated the bank’s paperwork and conduct over the life of the company’s relationship with the bank and were able to identify significant failings by the bank. We were able to use these failings to negotiate a settlement of £40,000. The bank also delayed the case and agreed to pay 50% of our fees for their actions from the £40,000 settlement.
Case Study 3: Director's “misconduct” resolved
Client’s Position: Our client was accused of misconduct by the Liquidator and being pursued for £1,500,000. The client denied the claims in the most part but could not afford to fight the matter through the courts. The Liquidator had funding in place and were pressing for litigation.
End Result: We used our professional expertise to look in detail at the previous trading and to cast doubt on the Liquidator’s ability to get a £1.5M remedy. We were able to get the debt written off without any admittance of liability from our client and a token payment of £15,000 as a gesture of goodwill.
Case Study 4: Fellow rogue director
Client’s Position: Our client had been in business for 16 years with his fellow Director. He approached us for assistance following a recommendation to our services from a Business Adviser. Our client suspected that his co-director had run up debts by taking “more than their share” from the business and the business was, as a result, in financial trouble.
End Result: We were able to investigate and build up a picture of the business and the actions of each director. We forensically recreated the records and were able to negotiate payment of our fees by the other director together with a six-figure payment to our client and payment of the debts.
Case Study 5: Business failure caused by other party
Client's Position: Our client had run a business for 10 years with a fellow director but was a minority shareholder. The other director (and majority shareholder) pressured our client into giving the bank a Personal Guarantee. The Bank also put pressure on the business for the minority shareholder to give the guarantee as he had banked with them personally for many years. The business entered insolvency shortly thereafter and the bank took money from our client's savings account to repay the Limited Company's debts in full.
End result: We were able to show that our client had been unduly influenced by the majority shareholder and obtained full repayment of all the savings lost by our client.
Why do insolved succeed where others fail?
Quite simply, we are specialists in all things insolvency and our principal has 25 years experience in both corporate insolvency and wider financial services. Very few companies operate from the perspective of what do we do now a company has failed and how do we mitigate the effects on the individual?
The liquidator will be busy representing the interests of the company's creditors which is, often, directly against your best interests.
We are a specialist firm that only complete work on cases that are associated with a Limited Company in Liquidation. By specialising in this way we know all of the specific circumstances, reliefs, mitigation opportunities and genuine ways to avoid either (a) debt or (b) disqualification.
How can you solve my issue?
Principally, we approach any issue as Forensic Accountants. This means that we follow the evidence. Whilst we sit between two parties, we are only appointed to act for you. This means that we are not looking for evidence that supports the case against you (and nor are we required to bring this to anyone's attention) and we concentrate on evidence that suits your position and either drives down the cost or removes a claim against you entirely.
How successful are you?
We successfully remove or significantly reduce a claim in 80% of the cases upon which we are appointed.
Does it affect the Liquidation?
If we are acting in relation to a personal guarantee or disqualification issue then our work has no effect on the liquidation. If we are acting in relation to a liquidator's claims against you (misfeasance, preference, directors loans etc.) then our work would reduce, or remove, the amount you have to pay which would affect the liquidators and, potentially, the creditors of the company but otherwise it would not affect the liquidation process.
How long does it take?
The quickest we have ever resolved an issue is 10 days but it usually takes around 3 to 6 months for us to complete our role because forensic work is painstaking and it will take other parties some time to acquire and provide us with the evidence requested. Once you instruct us, you will have a dedicated named contact that will guide you through the process and they will keep you up to date. Regrettably, other parties are the slowest part of our service but we work to minimise their delays and, of course, any delay usually delays you having to make any payment and so is not against your interests. Rest assured, we will work to balance delays to ensure that they are minimised.
What's involved?
The process for our clients is fairly simple. Once you instruct us, we do all the hard work and review your circumstances in full. You simply sign an authority for us to get the information needed directly from others and once we have the necessary evidence we will work to minimise your exposure.