How to Choose the Right Insolvency Practitioner for Your Company

How to Choose the Right Insolvency Practitioner for Your Company

Working with the right insolvency practitioners is vital. Each has different strengths, after all, and not every business – or every insolvency situation – is the same.

If cashflow is at the heart of your problems, there is an insolvency practitioner ideally suited to your needs. But if something more fundamental has gone wrong, the same practitioner is unlikely to be the right person for the job.

That’s where we come in.

We can assess your situation, give insolvency advice, and put you in touch with the right practitioner for you, depending on the size of your business and the nature of its financial issues.

What is an insolvency practitioner?

Insolvency practitioners (IPs) are licenced professionals – often with accountancy or legal backgrounds – who are appointed to oversee a business’ affairs during formal insolvency procedures.

Given the kind of access they have to privileged information, they are bound by a code of practice designed to ensure their work is carried out to the very highest ethical standards. They are:

• Integrity
• Objectivity
• Competence and due care
• Confidentiality
• Professional behaviour

Once an IP has been appointed, they will take responsibility for all company activity from that point forward – including dealing with creditors.

Where do we fit in?

First things first; if you feel your business is in trouble, don’t wait, contact us today. Our free, no-obligation business health check will let you know how serious your situation is – and whether insolvency practitioners are needed.

If so, our experienced, professional staff will scour our extensive database of insolvency professionals to find the right one for you. If not, there may be other options – and we can help you with those too.

So… if your business:

• Has debts outweighing its assets
• Has no working capital
• Has received a County Court summons
• Is lacking the cash to pay wages
• It’s time to take control.

Speak to us today. Getting in touch is the first step towards putting things right.