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How
do we provide CVA, IVA SIMIVA and PVA advice?
Initial
advice is provided free of charge by our CA team to enquiries
from individuals, directors, partners, advisors, banks and
investors. Typically we need to have some basic details
of the business problem to be able to diagnose the problems.
See 7 deadly sins
for details of the information we require.
Then
we collate the enquiry information and one of our technical
experts reviews the file. If the business appears to have
the necessary attributes, a free interview meeting is arranged
typically at the business premises of the enquiror. If we
cannot help we can offer introductions to insolvency practitioners
or alternative advisors. For example if it appears that
there are one or two pressing creditors we can pass the
details to an associate company that provides quality intermediary
advice to effect a solution.
Recommendations
report
After
every face to face meeting KSA will produce a detailed quality
report on the background to the business's problems, the
current situation, and the legal obligations of the directors
and a detailed analysis of the options available to the
business. All options such as liquidation, administration,
CVA, refinancing, trading out etc are covered and the solution
that we recommend is only reached after this analysis.
We
provide a detailed breakdown of ALL OF OUR FEES in this
report so that there is no ambiguity as to our work, the
cost of this work and how the client will pay for it. We
always take a staged payment approach with a degree of success
related fee built in. This way everybody knows what the
cost and payment patterns are at the outset.
In
addition and where a CVA or IVA is recommended, a restructured
balance sheet model demonstrates what the corporate finance
effects of the solution are. All of the process is free
of charge.
After
the report is issued further meetings may take place - if
a decision is subsequently made to appoint KSA we go through
the following formal process:
-
Verbal acceptance of the recommendation.
- Board
meeting with majority decision to accept the board resolution
to appoint KSA.
- Formal
engagement letter.
- Schedule
of information required is then supplied.
- The
client completes the provision of information.
- CA
division commences production of the proposal.
- Creditors
(such as the Inland Revenue and VAT) are contacted to
inform them that no further payments (if a CVA or IVA
is being proposed) will be made until after the creditors'
meeting.
- CA
division negotiates with the banks, investors, staff,
management, and creditors etc to ensure that the management
is refocused on the task at hand.
The
process of producing the document proposing a voluntary
arrangement can be 1 to 6 weeks but typically depends on
the quality and depth of information that the client provides.
Company
Rescue
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