Freephone 08081 446611 for practical solutionsNews
May 2010
Insolvency Practitioners saved nearly 2 million jobs in 2009. The **** Com Res has estimated that the UK Insolvency Industry has helped to save nearly 2 millio... more
February 2010
INSOVENCY NUMBERS ON THE RISE The latest figures from the Insolvency Service show a 22.8% rise in Company liquidations during 2009. Similarly the number of Per... more
Pre-Pack Finance
Directors faced with a potential Insolvency and a desire to purchase all or part of the Business back are faced with a dilemma. Where can I raise the necessary funds?
Rarely will directors have sufficient of the own funds to be able to finance the buying back of assets on a Pre-Pack Administration. Depending on the type of business that they have, it is possible to raise funds in these circumstances. At Lines Henry we have over 20 years experience in assisting Directors with Insolvency. Over that time we have built up a number of contacts in the Finance Industry.
Typically funding can be arranged in the form of Asset Finance on the Plant, Machinery and physical assets of a Company. In many cases it will also be possible to arrange for the Factoring of a company’s Book Debts, which will assist in raising working capital for the New Business.
In some Pre-Pack Administrations it is not uncommon for a Factoring Company to get involved prior to the Administration, taking over the Company’s existing book debts and then setting up a similar facility for the Purchasing Company that acquires the assets/business through the Pre-Pack. This provides a continuity in debt collection and can allow an existing factoring company taken out of the equation which may assist the Pre-Pack process.
What will it cost me?
This is a question you should ask any firm or organisation which offers insolvency / debt advice. Rest assured, Lines Henry as Insolvency Practitioners, do not make any up-front charge or consultation fee.
The following pages will help explain how and where we can help you.
Contact us
You can contact us by calling our freephone number 08081 446611. By emailing us at help@lineshenry.co.uk or alternatively by completing our call back form below:
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