Case Studies Archive

Mr & Mrs C. (private sector employees)

Mr & Mrs C had accumulated substantial amounts of credit card and loan debt from an unsuccessful business and through living beyond their income. They owned a house with considerable equity. We were able to agree five year Individual Voluntary Arrangements with their creditors offering voluntary contributions from their net disposable  incomes together with a contribution from selling or remortgaging their matrimonial home in year four of the arrangement.

Consultantcy Ltd (liquidation)

This consultancy firm had suffered badly from the recession. A substantial proportion of its work was with utilities and local authority customers under PFI contracts. This work began to fall away. There were also a number of contractual claims against the company.

Creditor levels built up and they could not forsee a way out of their problems without a strong order book. We recommmended to the directors that they place the company into Creditors Voluntary Liquidation and make their staff redundant.

At the meetings of shareholders and creditors partners of this firm were appointed liquidators and are proceeding to realise its assets including cash balances, two properties and a number of sizeable and complex contractural debts. The company's bankers have been paid in full from realisations under their security, preferential creditors are likely to be paid in full and it is anticipated that unsecured creditors will receive a reasonable dividend.