Business Recovery & Insolvency

Our Business Recovery & Insolvency team understands your issues and offers relevant and empathetic advice. We focus on creating positive outcomes from difficult situations.

With decades of experience in restructuring and recovery, we’re here to support you and your business through the tough times. So, if you’re facing challenges – such as performance dips, mounting debt or reduced cash flow – we can help.  The Coronavirus Pandemic has brought some unique challenges and we can help.

Our most popular services

We work with businesses across every industry. We provide a broad range of advisory and recovery services.  Due to the latest Coronavirus government support measures, some our most required services include:

  • Advising on directors’ duties
  • Solvent liquidation / members’ voluntary liquidation (MVL)
  • Advising landlords and tenants
  • Advising the retail and hospitality industry
  • Advising directors on Bounce Back Loans and Furlough Payments

Recently we have been advising many directors on defaulted Bounce Back loans taken out during the Coronavirus pandemic. Although directors carry no personal liability, in the event the monies were used for personal use, a liquidator can run a misfeasance claim against a director, resulting in potential personal liability. We can advise on this and try to help mitigate the risk.

The sooner you bring us on board, the greater our chances of guiding you towards a successful recovery. At every stage, you’ll find us straight-talking and flexible.

We’ll always secure the optimal commercial solution for you or your business, whether that’s a solvent or insolvent route.

Our team

Our team of Licensed Insolvency Practitioners has a solid background in accountancy, banking and litigation. We also draw on experience obtained working with HMRC and the Official Receiver’s Office.

We use our collective experience and strong links to our professional community to offer innovative solutions, allowing us to secure the best commercial outcome for all stakeholders. And, with long-standing relationships with banks, alternative funders, key suppliers, landlords and HMRC, we can handle all negotiations on your behalf.

Our approach

We take the time to listen, understand and develop a deep knowledge of the situation at hand. We pride ourselves on our down to earth approach and you will find us both understanding and pragmatic. We speak in plain English, ensuring that you are informed at every stage, encouraging open and honest communication.

Part of a global practice

Being part of a multidisciplinary practice means we can call on the expertise of our colleagues around Moore Kingston Smith. We work closely with our corporate finance team, enlisting their expert restructuring advisory services and mergers and acquisitions knowledge.

And, as part of the Moore Global Network Limited, spanning 100 countries, we can enlist the help of our international colleagues if your business has interests outside the UK.

Explore our services

Choose a tab to read about our services in more detail.

Corporate Insolvency

We will always try to avoid formal insolvency procedures. But, on some occasions, a business can’t be turned around or rescued.  That’s when a formal corporate insolvency procedure may be the best route. It means we can rescue the viable part of a business or realise assets to maximise recoveries for creditors.

We’ll act quickly and flexibly to provide the right advice to achieve a positive outcome from a formal corporate insolvency procedure. We regularly work with directors, lenders and creditors to get the most value for all stakeholders.

Our services include, but are not limited to:

We regularly work with directors, lenders and creditors to maximise value for all stakeholders. Find out more about corporate insolvency procedures here.

Contentious Insolvency

If an insolvency case is particularly complex or contentious, our Forensic Insolvency Recovery Service (FIRS) team will take the lead.

A dedicated team of insolvency and forensic specialists with considerable experience of controversial cases, FIRS comprises insolvency practitioners, solicitors, enquiry agents and counsel.

They will assess, investigate and pursue insolvency related claims — particularly corporate insolvency — in an effective and cost-efficient manner.

Using a special cost structure and conditional fee agreements, the FIRS team ensures that the funding requirement for investigational cases is kept to a minimum.

When is forensic investigation needed?

  • If directors and other parties could have contributed to the collapse through their negligence, misconduct or misappropriation of company assets, to the detriment of creditors
  • Where rogue directors routinely put companies into liquidation, ensuring that barely sufficient assets remain to pay the costs of the liquidation, delaying recovery action
  • Where, although adequate powers and remedies are available to liquidators to pursue claims, the associated costs of investigation and litigation have created a climate where the powers are rarely used effectively
  • Where some claims are not pursued because not all liquidators have the inclination, resources or experience to investigate and pursue them.

Restructuring Advisory

We specialise in stabilising companies that are experiencing financial difficulties. Our goal, whenever possible, is to avoid formal insolvency procedures.

We work with stakeholders such as lenders, key creditors, landlords, shareholders and directors to establish a company’s financial position. We can also project the short and long-term requirements, as well as offer restructuring advice.

We’ll help stakeholders assess their options and deliver contingency plans. With the assistance of our corporate finance team, we can deliver improvements to a company’s liquidity, cash flow, debt structuring, cost controls and turnaround strategies.

Our services include, but are not limited to:

  • Cash flow reviews
  • Independent business reviews
  • Turnaround
  • Pre-lending due diligence for banks
  • Options and contingency planning
  • Exit planning

Corporate Streamlining

Our team can help groups streamline their corporate structure, whether that’s to reduce ongoing administrative costs in dealing with obsolete subsidiaries or to assist with general tax planning.

We work closely with our business & corporate tax team to:

  • Review your existing corporate structure
  • Review each entity and understand its purpose, including its tax consequences
  • Consider whether a dissolution or members’ voluntary liquidation (MVL) is appropriate
  • Help you implement a strategy using economies of scale to greatly reduce unit cost of each liquidation.

Members’ voluntary liquidation (MVL)

Sometimes a solvent company is no longer needed, or the directors or shareholders may wish to retire.  As such, a MVL may be required. It can be a tax-efficient way of distributing the assets of a company to its shareholders, enabling qualifying shareholders to benefit from business asset disposal relief (previously known as entrepreneurs’ relief), bringing the life of the company to an end.

Mergers & Acquisitions

With the assistance of our corporate finance team, we can assist you with buying or selling a distressed business.

Mergers and acquisitions are often complex and require a great deal of attention, particularly with financial, legal and operational challenges. We have the resources and expertise to act quickly, which is often necessary when the situation is distressed or accelerated.

Our services include, but are not limited to:

  • Corporate finance
  • Due diligence
  • Valuations
  • Financial modelling
  • Raising finance & growth capital
  • Management buy-outs and buy-ins

Personal Insolvency

We pride ourselves on giving realistic personal insolvency advice, as well as recognising and dealing with the sensitivities of any situation.

We work with individuals and their creditors in a practical and sympathetic way to find a suitable outcome for all stakeholders.

Our dedicated client services team also advises and supports creditors in the recovery of their debts, both before and after formal insolvency proceedings.

Our services include, but are not limited to:

Client Services

As a client, you’ll get access to our client services team at no extra cost. They can help creditors remove the administrative burden by outsourcing the management of bad debts and improve recovery rates.

With a personal service, tailored to your needs, you’ll get a dedicated contact. The team will provide as little or as much input as you require.

The client services team can:

  • Identify the status of the individual or corporate debtor
  • Identify whether an insolvency practitioner has been appointed
  • Review voluntary arrangement proposals to improve your dividend prospects
  • Challenge the appointment of a director’s choice of liquidator or administrator
  • File proxies and proofs of debt on your behalf
  • Notify you of any potential dividends
  • Collect any dividends on your behalf

Insolvency

The continuing rise of insolvency procedures has seen the volume of insolvency notices sent to creditors increase. But these are often disregarded as recovery rates continue to remain low, which has resulted in millions of pounds remaining unclaimed. The sooner you inform us about the pending insolvency, the more options we have to maximise the return for you.

Negotiation

As so often in business, negotiation is often a better course than legal action. So, before any formal insolvency takes place, we can approach the debtor, establish their financial position and propose a course of action that will ensure the best result for you. These options could include:

  • Individual voluntary arrangement
  • Bankruptcy
  • Partnership liquidation
  • Partnership voluntary agreement
  • Trust deed (Scotland only)
  • Informal agreement
  • Creditors’ voluntary liquidation
  • Compulsory liquidation
  • Members’ voluntary liquidation.

Keeping you updated – KS Vision

All the information we hold is regularly updated, giving you total transparency of your insolvent debts. We use KS Vision, a bespoke case management system and client portal. It will alert you when a company or an individual begins a formal insolvency process, so you’ll be informed as quickly as possible and can act swiftly to recover any outstanding monies.

The alert service is delivered by proactively monitoring your customer file against the daily feeds of corporate and consumer insolvencies. When a match is found, an alert is sent directly to your inbox.

KS Vision will also manage the entire claim process for you, with all case-specific information available for review in an easily accessible online portfolio.

Related Links

Creditors’ Hub

Below is a link to our Creditors’ Zone, as well as useful information guides and a glossary of insolvency terms.

Policies

Complaints procedure: Whilst we undertake to consider any complaint carefully and promptly and to do all we can to explain the position to you, if you remain unsatisfied, you have the right to refer the matter to the Insolvency Complaints Gateway which is operated by the Insolvency Service, an Executive Agency of the Department for Business, Energy and Industrial Strategy (BEIS).

Complaints can be submitted via an online complaints form at www.gov.uk/complain-about-insolvency-practitioner (Guidance for those who wish to complain can also be found on this site) or sent by post to IP Complaints, Insolvency Service, 3rd Floor, 1 City Walk, Leeds, LS11 9DA.

If you have difficulty accessing the online complaints form you can also make any complaint through the Insolvency Service Enquiry Line – email insolvency.enquiryline@insolvency.gov.uk or alternatively telephone 0300 678 0015 (Monday to Friday 9am to 5pm).

Authorisation scheme: All insolvency practitioners are licensed in the United Kingdom by the institute of Chartered Accountants in England and Wales and are bound by their code of ethics. Partners acting as administrative receivers. Administrators or supervisors of voluntary arrangements act as agents for the debtor and without personal liability.

 

Meet the Team

Our tight-knit team brings a wealth of experience to the table. Led by five partners and located across the City, St Albans, Heathrow and Redhill, we pride ourselves on providing a personal service — with all the benefits of being part of a big organisation.

As a client, you’ll get a partner-led service, with a dedicated point of contact, whenever you need us. Find out more about each member of the team below.

Lead Contact

Ian Robert

Partner - Moore Kingston Smith Licensed Insolvency Practitioners

Email: Ian Robert

Meet our team
Contact us

When I had to put my company down, Moore Kingston Smith & Partners made the process painless, which I never thought it could be. They provided a sympathetic ear and some sound, firm advice - and it was good value for money, which I wasn't expecting!

Chris Wheelhouse
Managing Director, Hot & Cold Equipment Limited