In a brief but excellent article by Andrew Tate, R3 vice president, he sets out to defend the use of Company Voluntary Arrangements (CVAs) and pre-pack Administrations, commenting that the creation of a panel of independent experts to review proposed pre-pack administrations should go some way to allay ongoing concerns over the transparency of the procedure.
The article doesn’t mention the amendments to the Insolvency Rules that came into force in October 2015 which provide that insolvency practitioners must now provide an estimate of their fees in advance of the approval of the basis of their remuneration.
Prior to these changes, Poppleton & Appleby already had an excellent track record of delivering clear, transparent rescue solutions for insolvent companies; tailoring the correct procedure to the specific needs of the client and delivering the optimum outcome for creditors.
Poppleton & Appleby’s response to the new Insolvency Rules has been to comprehensively review our working practices and design a new regime that provides the highest levels of clarity and certainty for directors, lenders and creditors from the earliest possible moment in all matters we deal with.
This approach, delivered by a team with extensive knowledge and experience of implementing CVA and Administration procedures means that a director of a struggling company can benefit from a rapid but rigorous appraisal of the company’s position and potential outcomes, whilst creditors can be assured that the strategy ultimately employed will deliver the maximum return possible, with no unpleasant surprises when they receive the final report at the conclusion of the insolvency.
For more information about Administration or CVAs you can download one of our free brochures here.
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