Credit Today Awards Corporate Recovery Firm of the Year – Small Firms!
We are pleased to announce the winner was “Abbott Fielding”. Congratulations from Ashley Commercial Finance “Friend of the Smaller Business” who sponsored the recent Insolvency and Rescue Awards 2008 category which took place at the glamorous Grosvenor House in London, Jonathan Cranston MD along with host comedian and TV presenter Dominic Holland, who has enjoyed success as both a stand-up comedian and a writer and is often seen as a panelist on shows including Five’s The Wright Stuff, BBC’s Have I Got News For You and Never Mind the Buzzcocks, presented the gong! It was a wonderful evening attended by A1 companies in the insolvency and rescue sector. Congratulations to the winners, and good luck to everyone for next year.
Ashley recognise that IP’s owe a duty to creditors to maximise their return. In many cases the best option is that the business continues to trade whether in Administration or by the sale of its assets as a going concern. This is because a break-up of the company’s assets would not produce the best return to creditors. Sometimes this is impossible because there is no adequate funding to support the restructuring route.
IPs often overlook invoice finance, but this can prove a very useful tool, generating funds very quickly to allow businesses to continue trading. In the current climate it is particularly valuable as banks are reluctant to fund these types of situations. As cash flow is crucial at this stage, IP’s will welcome the ability to restructure businesses, which will maximise the return to creditors.
Recent types of transactions include:-
Paying off overdrafts and consequently removing banks from the situation.
Funding “pre-packs” allowing companies to restart trading and maintain the value of the assets.
Funding companies that are trading in administration or in CVA.
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