Read the press release version here.
Our new head of Insolvency, Restructuring and Bankruptcy shares a few tips worth reading as we head towards the busy Autumn season:
- 1. Do not bury your head in the sand. Deal with it. Creditors will do anything to assist you or your company to ensure that what is a bump now does not become a major headache for them.
- 2. As for creditors, we can assist you in bringing a commercial reality to an often difficult position. Speak soft and carry a big stick! You will want your tenant to stay in place rather than try to find a new one (or make that mid term goal over 6 – 12 months) or if it is loan/debt, the debtor company instituting various options open to it under the Insolvency Act which may lead to an even worse option for you as a creditor.
- 3. Either as a creditor or debtor, we can assist you as we have dealt with numerous such cases over the years (from both sides) to take the emotion out of the matter as we seek to resolve all disputes on a commercial basis.
- 4. Finding a good tenant or ensuring that your debtor meet its obligation over a longer term may well be the answer to resolving issues now rather than lengthy court cases or as they are insolvency process, any negotiation hand you once held may now well be lost