In difficult financial times, business owners may find themselves in need of commercial legal services to resolve issues of bankruptcy, insolvency and administration.
A sudden halt in cash flow or a pending crisis where a customer has failed to honour a contract can lead to the threat of an insolvent position for a business, especially where it is reliant on only a small customer base or on one major client.
Equally, if a supplier is fearful of not being paid, a bankruptcy petition may be sought even if the debtor company does not consider the situation justifies such an action. However, this move could cause a collapse in confidence by the creditor’s other suppliers or its bank, leading to a possible calling in of finance with its attendant threat to the future of the business.
In both cases, the practical, professional and personal skills of a commercial solicitor could make all the difference to the outcome of such circumstances, enabling the business either to continue, perhaps after financial restructuring, or to close in an orderly fashion, having maximised the eventual capital return.
Fast, competent and comprehensive advice on all aspects of potential bankruptcy and insolvency are a speciality of the commercial solicitors at George Ide LLP. They offer confidential help on all aspects of minimising the problems caused to a business by unexpected financial losses.
The solicitors in our commercial department will often work hand-in-hand with an insolvency practitioner, if required, in order to bring matters to a satisfactory conclusion. We have close ties with some of the leading insolvency practitioners in the south of England
Whether you are a one-man band who has been let down by a customer or the managing director of a large-scale trader threatened with a bankruptcy petition by the Inland Revenue or a disgruntled supplier, you will be offered the same high standard of professional legal advice guided by commercial imperatives.
To talk to a member of George Ide’s commercial legal services team, you can call our Chichester offices or contact one of the solicitors using the profile details provided on this web page.