With the support of HM Revenue & Customs, we were appointed as liquidators of a company whose only asset (a hotel) had been transferred out of the company immediately prior to liquidation. After an investigation, we were able to prevent a re-registration of the hotel at the Land Registry. We were then able to obtain possession of the property for the benefit of the liquidation estate, which we traded and then sold for £6.6million. This led to substantial funds becoming available to the creditors.

Steel production

We were appointed receivers of a steel mill by a US Bank. The Company had IPR in the form of a patented process, indications of an order book from US government agencies, but few confirmed orders. We preserved the IPR by protecting the valuable patents and, after an initial trading period, closed the mill but kept on sufficient staff to deal with order enquiries and for security protection. After a comprehensive marketing effort in the UK and the US, the business was eventually sold as a going concern one year later. Whilst this did not completely repay the Bank’s debt, recoveries were far in excess of a break-up basis.


We were appointed administrators over a chain of 10 off-licences as a result of a HM Revenue & Customs investigation into duty fraud. Upon investigation, the directors had their assets frozen and, after trading the off-licences and regularising staff contracts and licensing issues, we were able to sell them as going concerns to independent third parties, thus enabling a return to creditors.


We were instructed by a construction company who wanted to cease to trade. We advised that a controlled administration was the most effective way to realise the debts as there was a reduced risk of set-off, which would have been applied in a liquidation. With the assistance of quantity surveyors, we analysed the debt, collated the necessary documentation and obtained the bank’s endorsement to our appointment. We agreed a modest minimal fee with uplift after realisations reached certain levels. The realisations to date have exceeded our initial expectations, resulting in a higher realisation for the bank and an increased fee, which reflected our success.

Leather wholesaler

We were appointed by an overseas bank to a major UK importer and wholesaler of leather garments. Realisations included stock of £250,000 and six properties worth £3.9million.

Fitness equipment

A UK subsidiary of an US based company that entered Chapter 11 proceedings. The UK administration involved the collection of debts due from customers via credit card payment plans and the trading out of the stock position over a period of four months. Total realisations to date are £1.6million.


A receivership appointment by the Charity Commissioners pursuant to the Charities Act 1993 and the Charities (Receiver and Manager) Regulations 1992. The assignment involved the sale of the charity assets to a third party, and an initial offer of £100,000 was increased by negotiation to £700,000.

Football club

A CVA of a third division football club, involving the payment of a 17% dividend to the unsecured creditors. The arrangement secured the approval of 99% of both shareholders and creditors.

Advertising agencies

We have advised several insolvent agencies where to preserve the business and its client base, as it was necessary to effect a ‘seamless’ transfer of the business. We co-ordinated talks with interested third parties prior to appointment. Our strategy reduced the levels of cost, as there was no trading during receivership/liquidation, as exchange and completion of the contracts for the sale of the businesses occurred immediately following the appointments.

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