RPRendle_RecoveryService

Impartial and fair

Rendle & Co works with directors, business owners and lenders to establish the facts and agree a strategy and action plan with specific deliverables to produce the best outcome for you.  We act at all times in the interest of you, our client, and deal impartially and fairly with all other stakeholders, whilst following the ethical code and regulations of the professional bodies with whom we are registered.   We provide whatever assistance may be necessary to make things as easy as possible for you.

Advice and active assistance

We understand the stress, difficulties and motivations of individuals struggling to juggle business, financial and other commitments.  It is our job to find the right solution for you and your business

Corporate Rescue & Turnaround.

When a company begins to experience financial problems, liquidation does not always have to be the end result.

If you are able to recognise the difficulties that your business is having and seek professional help early on, then there are other options that may be available to you.

Rendle & Co have guided companies and directors through many different insolvency procedures and have vast experience in identifying the insolvency procedure most suited to your individual circumstances

Corporate Rescue & Turnaround offers alternatives to liquidation through procedures such as administrations and company voluntary arrangements.  These procedures are there to help you and your business through difficult trading times and recover your business to the point where you are again able to trade independently and profitably.

Administration

An Administration provides you with immediate protection, meaning that creditors are prevented from taking any action against your business without the permission of the Court.

It is designed to allow your business to continue to trade with a view to achieving a better result to creditors and/or rescuing the company as a going concern.

Rendle & Co have staff on hand to support you through the administration procedure.  Our experienced team can even assist you on site with the day to day management of your business, dealing with suppliers, employees and debtors.   You will also have a case manager and experienced insolvency assistants who will be on hand to field calls from creditors and handle queries received into the office.

There is a one year time limit within which the Administration must be concluded, however this period can be extended with the agreement of the creditors or the permission of the Court if more time is needed to achieve the required results.

We will work with you to achieve the end goal of your company being returned to the control of you, its directors and its management.

 

Another common method of corporate rescue & recovery is a CVA or Company Voluntary Arrangement.

This is a procedure which enables you to put an agreement to your creditors, rather than the Court, under which they agree to accept a certain sum of money in settlement of the debts due to them.   You do not need to pay all your debts in full.

Rendle & Co will assist you in agreeing the desired outcome of the Arrangement and produce a proposal for your creditors.   Once the Arrangement is approved, it is legally binding on the company and all of its creditors.  Rendle & Co will supervise the entire process from the onset; drafting the Proposal, liaising with creditors to obtain approval, dealing with all regulatory matters and assisting you with any issues arising.  You remain in control of the business throughout the process.

A Company Voluntary Arrangement is extremely flexible as it is based upon the terms of the proposal agreed by the creditors.   For example, it may be agreed in the Arrangement that the company will make delayed or reduced payments of debt, undergo capital restructuring or arrange an orderly disposal of assets.

Upon satisfactory completion of the Arrangement the company may resume its usual trading practices or be dissolved depending upon the circumstances and your wishes.

There may be other procedures which may be available, however they are less commonly used.