Our service
Our Expertise
At expedium, we specialise in providing comprehensive insolvency and corporate recovery services tailored to businesses and individuals across the UK. Our focus is on delivering strategic solutions designed to address financial challenges effectively, offering a pathway to stability and growth. Below is an overview of the core services we provide:
Corporate Insolvency Solutions
Creditors’ Voluntary Liquidation (CVL)
A Creditors’ Voluntary Liquidation (CVL) is an insolvency process initiated by the directors or shareholders of a company when they recognize that the company’s financial difficulties have rendered it beyond rescue.
The voluntary liquidation process can provide a sense of relief for directors, especially for those who have been grappling with persistent creditor demands and concerns about the future of the business and its employees. When a company enters into CVL, any remaining unpaid debts (unless personally guaranteed) are dealt with by the liquidator. Additionally, and only once a company is in liquidation, eligible employees, including the directors, can claim, (subject to limits) arrears of wages, holiday pay, money in lieu of notice and
redundancy through a Government scheme.
Members’ Voluntary Liquidation (MVL)
A Members’ Voluntary Liquidation (MVL) is a formal process to wind up a solvent company, (a company that has an excess of assets over liabilities), when it is no longer required, often due to the
retirement of the office holders, or the completion of a specific project. Once the company is in Liquidation, the liquidator will distribute its assets and cash in hand to the shareholders, in accordance with the percentage of shares held. The shareholders may qualify for Entrepreneurial relief, leading to significant tax savings, on any distribution, and shareholders are encouraged to seek tax advice in this regard. A Statutory Declaration of Solvency, affirming the ability to repay debts within 12 months, is a mandatory requirement for an MVL.
Compulsory
Liquidation
Assistance with navigating the compulsory liquidation process initiated by creditors. We provide expert advice on the implications and guide you through the necessary steps to mitigate the impact on stakeholders.
Corporate Recovery Services
Company Voluntary Arrangement (CVA)
A Company Voluntary Arrangement (CVA) allows a company to negotiate a compromise with its creditors. Unconnected creditors representing at least 75% of the total debt in value must agree to the proposal. Once approved, all creditors are legally bound to accept the terms, which in most, but not all cases,
provides for the repayment of an agreed percentage of, or all of the total debt, over a fixed term, dependent upon projected affordability, typically through monthly contributions to the appointed Supervisor, who is a Licenced Insolvency Practitioner. A CVA, once accepted, enables directors to retain control of the day to day running of the Company. Although existing debts are ring-fenced, following the commencement of the CVA, the Company must pay all future debts as and when they fall due. Key benefits include legally binding protection from creditors, continued trading, debt consolidation, improved working capital, potential cost savings over other insolvency options, reduced outgoings, confidentiality, and the possibility of continued trade under revised terms.
Administration
Administration can serve as a lifeline, usually for larger insolvent companies, to enable them to continue to operate, whilst a buyer for the business and/or its assets, is sought, potentially preserving jobs An administrator can be appointed by the Court, a qualifying floating chargeholder (such as a bank), the directors, the company itself, or one or more creditors.
A company has to be able to demonstrate one or more of the key objectives of:
1. Rescuing the business as a viable entity; or
2. Securing a better outcome for the company’s creditors as a whole than would be likely if the company were
liquidated without first
entering administration; or
3. Realizing assets to distribute to one or more secured or preferential creditors. Once in administration, the company is automatically shielded from any legal action by creditors, known as a moratorium. A ‘pre-pack’ administration involves finding a buyer for the business and/or its assets before the administration begins, with the sale being executed immediately upon, or soon after, the appointment of an administrator. This can include sales to connected parties, which are subject to additional rules and requirements
Personal Insolvency Solutions
Bankruptcy
Guidance and support for individuals facing insolvency, navigating through the bankruptcy process to achieve a fresh start while dealing with debts in a legal and structured manner.
Individual Voluntary Arrangements (IVA)
A flexible alternative to bankruptcy, allowing individuals to reach an agreement with creditors to pay off debts over a specified period. Our experts craft personalised plans to suit your financial situation, aiming for a sustainable path to debt resolution.
Specialist Insolvency Services
Informal Arrangement
Our Informal Arrangement services provide a flexible, non-statutory solution for businesses facing financial difficulties, tailored by our
seasoned insolvency experts. We work closely with you to negotiate and implement bespoke agreements with
creditors, aiming to stabilize your financial situation without the need for formal insolvency procedures.
Turnaround Management
For businesses seeking to improve their operational and financial performance, we offer turnaround management services to identify and implement strategic changes that drive recovery and growth.
