Commerce and Industry magazine”Helping You To Combat The Crunch”
CARRICK READ – SOLICITORS AND INSOLVENCY PRACTITIONERS
HELPING YOU TO COMBAT THE CRUNCH
There is a view that the business community is in danger of talking itself deeper than is necessary into a recession.
The room for optimism is perhaps somewhat claustrophobic but excessive pessimism can quickly lead to business owners and managers losing their grip on their company’s reins.
This year, more than ever, there is a need for greater awareness of the options that are available for recovery, even corporate salvation.
Hull-based Carrick Read are solicitors and insolvency practitioners providing a mix of legal and corporate recovery skills. If in these troubled times ‘survival’ is to be the key word, then here are a few basic ground rules.
First and foremost, management teams need to be honest with themselves, accept their financial position – good or bad – and understand the potential pitfalls they face by continuing to trade when insolvent.
Carrick Read will assist with the practical and legal aspects of downsizing operations where necessary. We will negotiate directly with pressing creditors and introduce formal processes to provide protection from those creditors until proposals can be put in place to tackle the survival of the business or its sale under Company Voluntary Arrangements and Administrations.
Directors and owners need to be aware of the personal implications of ceasing trading and leaving behind unpaid liabilities and, if necessary, we will assist throughout the winding up process if a company is simply unable to carry on in business.
These can be difficult and stressful times. Our job is to take away the pain and achieve the best possible outcome for our client.
For further information on Carrick Read Solicitors or Carrick Read Insolvency Practitioners, call (01482) 211160 or click on to www.carrick-read.co.uk.
Commerce and Industry Magazine 25/02/2009
