Corporate and Personal Insolvency

Corporate and Personal Insolvency

When the company directors realise the company does not have a reasonable prospect of survival, they are obliged to cease trading in a timely manner and, to protect all creditors including employees and shareholders, appoint a liquidator.
Once appointed, the Liquidator is responsible for securing and selling all the company’s assets, distributing the funds to the creditors and dealing with the company’s employees. If you are faced with insolvency, either as a director, shareholder or as a creditor, our insolvency services team can provide practical guidance and support, advising you of your rights, duties and responsibilities and the correct procedures and course of action you need to take. Our team is experienced in each step of the liquidation process and have a long track record, acting as both company and creditor-nominated liquidators, ensuring successful outcomes from companies of all sizes and from all sectors. Our insolvency team offer a range of liquidation services in behalf of directors, shareholders or creditors:

  • Advising directors and shareholders on the proper procedures to be adopted in discharging their statutory responsibilities
  • Advice and assistance to creditors including representation at creditor meetings and provide timely reports on the progress of the liquidation
  • Prepare a Statement of Affairs – a detailed inventory and professional appraisal of all assets, including buildings and other real estate holdings
  • The calling and conduct of the various meetings involved in the liquidation process
  • Deal with all company aspects relating to the banks, the regulatory authorities, quantification and prioritisation of creditors, employee claims, etc.
  • Disburse payments to creditors as funds become available
  • File a statutory report to the relevant authorities

At Mann and Associates, we have wide-ranging expertise with businesses that are, or may become, insolvent and need to be wound down in an orderly manner. This can involve all or just part of the business that has not been performing.
We listen to all stakeholders to understand their objectives and implement a strategy that maximises their returns. In this way, we protect stakeholders’ interests. Our experiencedmergers & acquisitions team will:

  • Assess the opportunity from a financial and commercial perspective
  • Assist in developing an acquisition plan and assessing potential opportunities
  • Assist with performing the deal evaluation to include valuations and return on investments
  • Act as an intermediary between principals and assist approaching the negotiating with the vendor
  • Provide advice on deal structuring options and payment structures
  • Advise on funding options for the transaction
  • Provide due diligence services
  • Provide due diligence services
  • Provide advice on the commercial aspects of the purchase documentation and management of the process to successful closing
  • Assist with post deal services and integration solutions