Insolvency
Addressing financial distress by identifying and executing on the right solution for your business to achieve the best possible outcome for all stakeholders.
Whether you have been struggling through financial challenges for months or you’re facing insolvency, our team will work with you to determine the right solution for your business.
Common signs of financial distress can include difficulties in servicing debt burdens, legal letters demanding payment, growth in creditor and tax arrears, and deterioration in trading results. Left alone these issues may lead to a solvency problem, the consequences of which could involve personal liability of directors. It is important to recognise these signs and take swift action.
Explore Financial Advisory Services
Deloitte’s specialists have extensive experience and are skilled in working with people under stress and look to quickly analyse risks and identify issues, determine the right solution for the situation and efficiently and effectively execute to ensure the best result possible for all involved.
With new laws that came into effect on 1 September 2021, all Insolvency Practitioners are now required to be licensed and listed on the register of Insolvency Practitioners. All Deloitte appointment takers are Licensed Insolvency Practitioners.
- Receiverships – a receiver is generally appointed by a secured creditor who holds security over the company assets
- Liquidations – shareholders of a company can resolve to appoint a liquidator, or a creditor may make application to the court for the appointment of a liquidator
- Voluntary administration – a process which provides statutory protection from legal action and creditors until a best way forward is determined
- Creditor’s compromise – an arrangement with creditors to pay less/over a period of time and/or at a later date.
Connect with us early to discuss your financial concerns and take action to achieve the best outcome for your business, creditors and stakeholders. Feel free to contact one of our Licenced Insolvency Practitioners.