Insolvency for Partnerships

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If the investigation we will conduct, free of charge, shows your business is potentially viable, your options will be one of the following:

1Informal Arranegments
Made between Debtor and Creditor, not involving the use of formal processes, like Court Judgements, CVA’s or Liquidations for example.

2Refinancing
We can help you by analysing your requirements, preparing a business plan, including budget & cash-flow and introducing you to potential lenders.

3An IVA or a SIMIVA.
An IVA for Individual partners or a SIMIVA or interlocking IVA’s for all the partners.

4A PVA
A Partnership Voluntary Arrangement is a powerful tool (similar to a CVA) for the restructuring of a business

If the investigation shows your business is not viable, your options will be one of the following:

1A Winding Up of the Partnership.
Where the Partners have decided that the Partnership is no longer viable, then a decision may be made to cease trading and Wind Up the Partnership.

2Bankruptcy.
Bankruptcy is one way of dealing with debts you cannot pay, so that you can make a fresh start. But, depending on your particular situation it might not be your best option.

If the Partnership has limited liability protection (LLP) the corporate solutions apply, with some minor changes depending on various partners’ status (general or limited).

Either way, act now, get professional advice, free, from Phoenix & Co.

Be aware, that if your business is insolvent, the law requires the Partners to act in the best interests of the creditors.

Rescue. Recover. Renew. For free advice:

Corporate.

Individual & Partnership.

Other Services.

phoenix & co

Insolvency for Partnerships

If the investigation we will conduct, free of charge, shows your business is potentially viable, your options will be one of the following:

If the investigation shows your business is not viable, your options will be one of the following:

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