About Leonard Curtis Insolvency

Targeted expertise and an independent hands-on approach for UK SMEs

We provide directors of struggling businesses with positive strategic advice, enabling them to retain control of their business, as well as creditors and professionals involved with those dealing with debt and financial problems.

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Free Option Advice

We assist companies facing financial challenges. As a company director feeling under pressure, the speed at which we can help you identify your options is paramount. You may be pleasantly surprised at the alternatives available to you - it may not be the end of the line in terms of your business and the earlier you speak to us, the more we can do to improve your situation.

In many cases, an insolvency process can help your business emerge in a much stronger position. Our experts are available to offer free advice today on your options.

Business Review

A business may be under performing or experiencing difficulties for a variety of reasons. The problems may well prove to be less serious than initially anticipated. But it is essential that the problems are isolated and the causes identified if we are to first provide you with constructive assistance.

Our turnaround specialists Corporate Strategies undertake independent reviews which focus on the critical issues and provide clear recommendations. Our reviews are tailored to the specific needs of a company's directors, the bank or other lender and are often used as the basis for decisions concerning:
- Future viability
- Additional or new lending
- Corporate reorganisation

Freelancer Essentials

Positive options for Directors

Some options available...

  • Administration

    Administration is one of the options open to insolvent businesses. It allows the reorganisation of an insolvent company, whilst protecting it from its creditors. As Administrators, we can hold your company together while plans are formulated to rescue the business, maximise asset realisations, or put forward alternative options.

    Administration can be initiated by directors and used very effectively as a restructuring mechanism. Where the company has a viable future it provides a breathing space in which proposals can be put to the creditors. Streamlined under the Enterprise Act 2002, we can achieve an Administration quickly and efficiently. Your company can subsequently exit from Administration and be returned to your control.

  • CVA

    Under a Company Voluntary Arrangement, trading continues and a repayment scheme is agreed with creditors. A CVA, which is legally binding, aims to allow the business to survive as a going concern, or achieve better realisation of the company's assets

  • Administrative Receivership

    A review may conclude that a business is insolvent and continued trading in the long term is impossible. In these circumstances, steps must be taken to place the company into a formal state of insolvency in order to protect the position of the creditors and directors.

    An Administrative Receiver has wide powers allowing trading to continue and preserving the ability to sell the business as a going concern. Even if the business cannot be sold, actions can be taken to enhance asset value prior to realisation.

  • Liquidation

    Liquidation is usually the legal closing down of a business which may be solvent or insolvent. Liquidation may occur following a receivership or administration.

    Alternatively, the company's directors or shareholders may recommend that the company be put directly into liquidation via either a Creditors Voluntary Liquidation (CVL) or a Members Voluntary Liquidation (MVL) or a Court can make a winding-up order for a compulsory liquidation on the petition of a creditor or the company itself.

    Creditors Voluntary Liquidation (CVL)

    This occurs where the shareholders, usually at the directors' request, decide to put a company into liquidation because it is insolvent. Either the company cannot pay its debts as they fall due or it has more liabilities than assets.

    The purpose of the liquidation is to appoint a responsible person who has a duty to collect the company's assets and distribute them to its creditors in accordance with the law. That person is the liquidator who must be a licensed insolvency practitioner.

    Members Voluntary Liquidation (MVL)

    A solvent liquidation is known as a Members' Voluntary Liquidation in which a liquidator is appointed by the shareholders and the company's assets are sufficient to settle all its debts within twelve months.

    MVLs may be used for the purposes of reorganisation, or in the case of owner managed businesses to enable the shareholders to realise their interest in the company.

    The company's tax position can however be critical and our experts can advise you on the alternatives of liquidation or dissolution and any crucial timing decisions.

    Compulsory Liquidation

    A compulsory liquidation is usually where a creditor has petitioned the Court for the winding up of the company. The official receiver becomes the liquidator but normally appoints an insolvency practitioner to carry out the liquidation. This is also known as a 'compulsory winding up'.