9. How is a liquidator engaged/appointed in an MVL? Ordinarily, an introduction to an Insolvency Practitioner (IP) is made by an accountant when it is identified that a company is surplus to requirements with over £25,000 distributable assets. The IP will then contact the director to discuss the process, ensure that the test of solvency can be met, and ensure that
It’s quite some time since contractors last felt the need to ask about liquidation, but the ContractorUK Forum shows that closing a company is once again on the minds of some PSCs, writes Gareth Wilcox, director at Opus Restructuring & Insolvency. So-called ‘dormancy’ is experiencing a resurgence too — at least in terms of being a query that contractors want solved, alongside ‘Entrepreneurs’ Relief,’ ‘TARR’ and ‘MVL.’ In
John Thompson joins Opus Business Services Group as a Partner for Opus Business Advisory & Turnaround with over 25 years’ experience of business management, finance and company turnarounds. In the current climate, customer needs, advances in technology, compliance and employee expectations have all combined to make the running of businesses increasingly demanding for the owner manager. Opus Business Advisory
Appointed as Joint Administrators of Commercial Storage Ltd (‘CSL’), Steve Parker and Trevor Binyon of Opus, a national business advisory, restructuring and insolvency practice have achieved a pre-pack sale of the Company’s business and assets, delivering security for all employees and a positive outcome for creditors. CSL had been trading positively in previous years but more recently the company
Opus, a national business advisory, restructuring and insolvency practice has saved 54 jobs and preserved operations at 9 trading units of Concorde Tyre & Exhausts Ltd through a rescue deal agreed with a major competitor looking to expand its business. Concorde Tyre & Exhausts Ltd was seeking inward investment but it became clear that whilst the underlying business was
Opus, a national business advisory, restructuring and insolvency practice, continues to grow and develop its service offering. Pear Tree Forensic Accounting, a forensic accounting company based in London is now part of the group. Growing corporate governance and tough economic conditions have seen a rising need for forensic accountants. Carrying out investigations for actual or anticipated disputes and litigation, forensic
