McLenan Corporate Solutions Limited - Insolvency Practitioner Ayrshire
McLenan Corporate Solutions Limited are Ayrshire's only boutique Business Recovery and Insolvency Practice
We assist businesses and individuals resolve financial problems. We work in partnership with many firms of accountants, lawyers and lenders to ensure their clients are well supported should the need arise.
The social, political and economic climate of today is unprecedented. With external market forces placing an increasing tension on organisations, financial distress can quickly escalate. We understand that facing up to financial challenges can be an extremely difficult and stressful time and we are here to help.
Despite common misconceptions about our profession our aim is to help restore the financial health and well-being of businesses to allow them to survive and thrive. There are options available and, with the right advice and support, you can look forward to a more financially secure future.
Measuring success can take a variety of forms. Financial stability is the obvious one but we do not underestimate the impact that our intervention can have on mental health and general well-being.
We provide a free no obligation, confidential consultation.
We prefer to meet our clients face to face but if that is not practical, we are more than happy to chat on the telephone. We will work closely with you to provide advice which is clear, concise and in the best possible interests of your stakeholders – whatever your situation, giving you the ability to make informed decisions on what is best for you and/or your business.
We are committed to finding solutions for businesses and individuals in financial difficulty and as an owner managed business, we understand the pressures and concerns you may have.
If you or your business are struggling financially, it is best to seek professional advice as soon as possible. If you are worried about your business finances please give us a call.
We provide a full range of insolvency services to company directors and have worked with business owners across a broad range of business sectors. We will take time to understand your individual business and work with you to achieve the best possible outcome.
Insolvency procedures always sound very negative; however, they can be used to rescue a business that is struggling financially. Only if a positive solution cannot be found will the business need to be wound up. Only licensed Insolvency Practitioners can provide these services.
The secret to effecting a successful rescue and turnaround of any company, is first recognising that it has some issues and secondly contacting us as soon as you are aware of these, in order to allow the time to review in detail all of the current and likely future issues, and to consider all options for a successful rescue and turnaround.
We are vastly experienced in business rescue and turnaround assignments and we do ourselves, running our own business, totally understand the pressures directors can face.
The company administration process is now fairly well known as one of the most effective ways of allowing a company to either trade out of its current financial difficulties, or to allow some kind of restructuring. The legislation is fairly complex, although here at McLenan Corporate Solutions Limited we are extremely experienced in both the basic administration process and also that of the pre-pack administration process. We are licensed to handle pre pack administrations and can provide your board of directors with professional advice and determine whether a pre-packed sale is appropriate. We work alongside a number of banks and other financial institutions and are well connected therefore in helping you through this process.
Company Voluntary Arrangement (CVA) is an agreement between a company and its creditors, to freeze the existing debt, to allow the company to continue trading and to make contributions over a period of time into a pot for all creditors. At the end of the agreed period, the Insolvency Practitioner (known as the Supervisor) will then pay the agreed dividend to the creditors. The Supervisor will then issue a certificate of satisfaction and the company is then free of its obligations under the CVA.
Liquidation is perhaps the most common form of insolvency procedure. Effectively there are three types of liquidation:
If you are struggling with unsecured debt and are unable to pay back what you owe, then personal insolvency may be an option available to you. McLenan Corporate Solutions Limited offer two personal insolvency solutions – a protected Trust Deed and Sequestration. While these solutions have subtle differences, there are some similarities between them in that: