What is the process you take me through?

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What-is-the-process-you-take-me-through

Your business can be rescued and in some circumstances liquidation or voluntary administration can be a useful tool to let you rebuild your wealth and personal prosperity. Every company and every management team is different. But let’s say your company is a mid size SME – Rebuild Now would go through a process like this … outlined below. Smaller companies would not require so many steps but you can get an idea of how we approach the challenge of getting the best result for you and all stakeholders.

What-is-the-process-you-take-me-through

All this looks complicated, but there is a ‘best solution’ and once you and Rebuild Now work that out everything becomes much clearer, the uncertainty is removed and your efforts are effective.

Free consultation

Assess stage of distress and estimate possible savings and possible solutions.

Engagement Phase 1

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1. Confirm insolvency

Temporary, terminal or just very risky.

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2. Assets and income stream audit

What is worth saving? For example, the business (retain or realise as going-concern); income stream (what are key components and what value is there in satisfying key liabilities); assets (what are they –  IP, debtors, relationships / networks, leased items, other encumbered assets, fixed assets, intangibles etc).

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3. Identify exposures if any

Insolvent trading, preference transactions, director benefits, assets treated as personal, uncommercial transactions, transactions that might appear to defeat creditors, personal guarantees, automatic personal liabilities.

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4. Identify ‘valuable’ liabilities

Reflecting advantageous relationships or combined with important or valuable assets.

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5. Identify secured creditors

Identify which ones might control what asset or ‘valuable’ business input and best approach to each controller. IP, debtors, relationships/networks, leased items, other encumbered assets, fixed assets, intangibles etc).

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6. Assess options

Assess possibility of trading out; risks, costs and benefits.

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7. Assess alternatives

Assess available alternatives; risks, costs and benefits and resolve best course.

Engagement Phase 2

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Decide what is the best course for the client – either:

  • A trade out and adopt new business strategies;
  • B enter Voluntary Administration (VA); or
  • C appoint Liquidator.
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If B or C – decide whether to sell business as going concern, sell assets to continuing entity.

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Plan, execute, mentor.

Trade out

  1. Conduct financial investigation
  2. Plan trade out
  3. Appoint business consultant / mentor / capital partner / financier
  4. Set budgets
  5. Confirm superior and acceptable

Completion

  • Company trades on

Voluntary Administration

  1. Conduct financial investigation
  2. Plan VA offer
  3. Select administrator
  4. Propose deed of co arrangement
  5. Confirm superior and acceptable
  6. Submit books and analysis
  7. Appoint administrator
  8. Execute deed

Completion

  • Company removed from administration
  • Company trades on

Trade out

  1. Conduct financial investigation
  2. Plan sale of business
  3. Select liquidator
  4. Confirm superior and acceptable
  5. Appoint liquidator
  6. Submit books and analysis
  7. Monitor process

Completion

  • Company wound up
  • New entity trades on

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Remember the Liquidators work for the Creditors, not for you. That’s their job. It costs you nothing to talk to us.

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