Corporate Recovery & Insolvency Advisory
What is Corporate Recovery & Insolvency Advisory to business owner?
Is your business having symptoms such as;
Having a hard time in terms of operation and financially?
Defaulting on bank loans?
Owned a company but has no intention to continue its operations?
Planning to restructure your company?
Our business recovery division team can help you with these issues!
*not limited to the list above.
How can our Corporate Recovery & Insolvency Advisory help business owner?
We specialize in providing business advisory services to various stakeholders which includes creditors, directors, equity holders, banks, and other interested parties. We are able to well serve both domestic and international clients from various industries. All our services are in compliance with the current regulatory and relevant government agencies.
Our experience team can aid you in striking off or winding off (liquidation) your company so that the company cease to exists. However, both package requires different process and we can provide expert assistance on both services to ensure that all your needs will be satisfy. Additionally, we can also provide advisory regarding to restoration of your company if you ever wish to restore your company within the permitted time period.
What type of services can we provide to business owners?
The main services offered by us includes:-
- Receivership is a situation where by company is held by a receiver which the ‘receiver is responsible for both tangible and intangible property of the company.
- A receiver is required in cases where a company cannot meet financial obligations or enter bankruptcy, or the court appoints in cases which business owner are incapable of managing their affairs. Under special circumstances, the government may seizes control of the property and therefore a receiver is needed to place in the custodial responsibility for the owner of the property.
- It is to protect the interest and security of lender via the preservation and/or sale of charged assets under a debenture.
- Liquidation is an orderly winding down of business and maximization of recovery value to creditors and shareholders.
- When the company is in liquidation, the liquidator takes control of the company while the company must cease all business activities unless the liquidator stated otherwise.
- Business owner needs liquidation when the company has no more operating activities, management deadlock, oppression or corporate restructuring, to minimize tax liabilities and maximize tax advantages for the company.
- The 3 different modes of winding up are
Members' Voluntary Liquidation
Shareholder’s decision to wound up the company and settle any outstanding debts within 12 months.
Creditors' Voluntary Liquidation
Creditors to consider company’s proposal for a voluntary winding up of the company if the company is not able to meet its liabilities.
Company present a winding up application to relevant authorities such as the court
Special Accountant Services (Monitoring role)
- The role of special accountant is to carry out a specific monitoring role that includes monitoring and reviewing specific business areas and at times also act as a co-signatory for payments or implement approval mechanisms in certain situations.
Scheme of Arrangement Services
- A scheme is an application to the Court for a voluntary reorganization under the Companies Act 2016.