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Corporate Insolvency Practitioners, Specialist Business Turnaround and Business Recovery Services.

Here at BCI our dedicated and specialist team are ready and able to offer professional support to individuals and businesses of all sizes. It does not matter whether you are an individual, a sole trader, partnership, LLP or a PLC we are dedicated to finding the best solution for you. The first option is always to see whether our highly commercial team of business recovery specialists are able to help secure a business recovery. Our dedicated team are able to offer a complete range of business recovery services. Unfortunately there are occasions where corporate insolvency is the only solution and where our insolvency practitioners will guide you through this often challenging process. We have expertise of managing clients all sizes, we give the same attention to detail and support to an individual or small business as we do in cases where we are managing a PLC insolvency. ]]>

Corporate Insolvency Practitioners, Specialist Business Turnaround and Business Recovery Services.

Here at BCI our dedicated and specialist team are ready and able to offer professional support to individuals and businesses of all sizes. It does not matter whether you are an individual, a sole trader, partnership, LLP or a PLC we are dedicated to finding the best solution for you. The first option is always to see whether our highly commercial team of business recovery specialists are able to help secure a business recovery. Our dedicated team are able to offer a complete range of business recovery services. Unfortunately there are occasions where corporate insolvency is the only solution and where our insolvency practitioners will guide you through this often challenging process. We have expertise of managing clients all sizes, we give the same attention to detail and support to an individual or small business as we do in cases where we are managing a PLC insolvency. ]]> http://www.bciassociates.co.uk/2011/08/07/263/feed/ 0 http://www.bciassociates.co.uk/2010/12/21/what-is-the-definition-of-corporate-insolvency/ http://www.bciassociates.co.uk/2010/12/21/what-is-the-definition-of-corporate-insolvency/#comments Tue, 21 Dec 2010 13:28:50 +0000 admin http://www.yournewvision.co.uk/BC/?p=143 If you are unable to meet your obligations to creditors when they fall due you are technically insolvent. It is illegal for the company to continue obtaining credit whilst in this state and there fore it could fall to the directors’ personal liability.

They were initially dealt with by our friendly administration team who quickly identified the urgency of the situation and referred the client for an immediate consultation. Once engaged we were able to negotiate with the petitioning creditor to have the hearing date adjourned and therefore more time was available to ensure a Company Voluntary Arrangement was in place. The client was then in a secure position, able to repay their creditors whilst being protected from any further legal action being taken against them.

Due to their high profile status it was important it was dealt with discreetly so as not to alarm their many employees. It became one of our longest running cases as we worked hard to negotiate the strongest position possible for the directors before a formal insolvency arrangement was reached. Unfortunately, due to the unforeseen actions of a third party the initial process failed. However as we had maintained a strong relationship with the client we were able to investigate the situation again and find another swift solution. They have expressed appreciation for our constant support throughout the process and as the solution ensured continuity they are now able to continue to run their successful business without public knowledge of their difficulties.