How do we provide Informal Turnaround 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 informal turnaround work is recommended, a detailed project will be drawn up and our performance measurement structure agreed in advance.

Our fees are paid daily, weekly or on a project related basis..

The informal deal process can be 1 to 6 months but typically depends on the quality and depth of management that we are involved with. Occasionally the agreement to provide turnaround work is terminated if, for example, we discover much deeper insolvency problems.

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