CMB Partners offers the full spectrum of insolvency services to the corporate and personal sectors.
Our qualified team of advisors will assist with any financial difficulties you have on a corporate or personal level. Your financial difficulties will be dealt with competently and compassionately. We pride ourselves on finding a solution to fit the circumstances.
All initial advice is given free of charge so there is no obligation and no pressure. We can also assure you that matters will be dealt with in the strictest of confidence.
Companies often face short and long term financial difficulties. At CMB Partners, our diverse experience can provide directors and/or appointing creditors with the best advice to suit any situation. Thus ensuring that the correct approach is taken to maximise the likelihood of a company or business being saved.
All too often, directors face the difficult decision of investing their own money to finance the business or attempting to continue offering services which adversely affects cash-flow. Once this is realised, the business cannot continue, it is too late. Where saving a business is not possible, CMB Partners can ensure that the recovery of assets is maximised and, where possible, dividends paid to creditors.
CMB Partners provides a full range of company services, which include the following:
- Administrative Receiverships
- Fixed Charge Receiverships
- Company Voluntary Arrangements
- Members’ Voluntary Liquidations
- Creditors’ Voluntary Liquidations
- Compulsory Liquidations
For creditors and individuals concerned with personal insolvency issues, CMB Partners provides innovative and practical solutions. Whether we are acting as a Trustee in Bankruptcy or the Supervisors of an individual Voluntary Arrangement, CMB Partners sensitive approach coupled with specialist experience and leading edge methods enable creditors to maximise recoveries while helping individuals avoid a potentially disastrous slide into bankruptcy.
Recent trends have seen an increasing number of bankruptcies in the UK due largely to the ease with which individuals can obtain credit coupled with the ability to petition for their own bankruptcy, thereby being allowed ‘freedom’ from their debts within a year. However, bankruptcy can be more complicated than some may assume – especially when the debtor has assets. With specialist bankruptcy knowledge we will work together to minimise costs and maximise recoveries and to pay dividends to creditors in as many instances as possible.
CMB Partners also investigates individuals who claim to have no assets and have secreted their assets elsewhere in the hope that they will not be realised.
We can also assist individuals with properties where a Trustee in Bankruptcy has been appointed by the Protracted Realisations Unit (PRU) often through negotiation, with experience gained having worked on both sides in such cases.
Individual Voluntary Arrangements
An IVA is essentially a contract between an individual and his/her creditors to repay a proportion of their debts over a period of time. It is often an attractive alternative to bankruptcy. The individual may raise funds by disposing of some assets, arrange for a third party to provide funds and/or make voluntary contributions for the benefit of the creditors from his income. An Insolvency Practitioner acts as the supervisor of the IVA.
The advantages to the insolvent individual of an IVA include:
- the avoidance of the stigma of bankruptcy, thus preserving professional status or that of a business
- a flexible approach to asset realisation and payment schedules
- the continuance to trade a business and does not face debarment from professional associations
- the advantage to the creditors is that they generally receive a higher dividend than they would do in a bankruptcy.
You should note that Bankrupts could have their bankruptcy annulled by arranging an IVA with an Insolvency Practitioner or, in limited circumstances, a “Fast Track” IVA with the Official Receiver.