At MHA Henderson Loggie we have a keen understanding of business recovery and insolvency issues. We provide practical straightforward advice for those facing financial difficulties by working through a range of options to identify the pros and cons of each option and the likely outcomes.
Our initial assessment of the situation and the first meeting is always free. We provide support to businesses and individuals.
Our experienced team benefits from having a specialist back-up in tax, accountancy, forensic and corporate finance.
What we do
- Administration & Pre-Pack Administration
- Business Cessation Support & Members’ Voluntary Liquidations (MVLs)
- Business / Personal Debt Arrangement Scheme
- Contingency Planning
- Company Voluntary Arrangements
- Credit Control Support & Debt Recovery
- Personal Insolvency Solutions – including Protected Trust Deeds & Sequestrations
If you would like to discuss any of these services in more detail, please get in touch.
Companies and Directors
Running your own business is hard work. When problems start to mount up and cash becomes a problem it gets even harder.
Insolvency practitioners spend a lot of time dealing with insolvent businesses, but we provide support to struggling businesses.
Seeking the advice of an insolvency practitioner is the right thing to do when things get tough. The earlier advice is sought, the more options there are and the more likely that you can get your business back to stability.
- We will always have a no-obligation chat or meeting to help you assess the options and we will keep you right on what your responsibilities and duties are.
- We can help you work out what the options are, what the pros and cons of each option are and likely outcomes.
- We can support you in preparing for conversations with creditors and potential providers of new funding.
- We can assess whether business recovery processes such as pre-pack administration and Company Voluntary Arrangements are solutions that will work in your circumstances.
- Should insolvency be the solution, we can take over the affairs of your business and wind up matters for you.
Individuals, Sole Traders & Partnerships
If you are struggling for cash, meeting your monthly obligations can be challenging and feels like a never-ending circle. It is stressful never knowing who is going to be at the door or on the phone looking for money. But there are solutions to personal debt problems.
We deal with Trust Deeds and Sequestrations. Get in touch and we can talk you through the options and which one is best suited to your own circumstances. We will help you to take the first step towards finding a solution and helping you move forward.
You may be an expert in your own field or a general practitioner but we are on hand to provide specialist insolvency and recovery advice to you and your clients. If you have a client that is facing financial difficulties you should recommend that they speak to a business recovery professional. The earlier they speak to us, the more likely we can save the business and keep you with a client that will continue to pay you fees for years to come.
We can also assist you/your clients with debt recovery and enforcement action.
Some of the ways we have provided support to other professionals and their clients:
• Helping businesses secure finance
• Putting in place Company Voluntary Arrangements (CVAs)
• Negotiating informal arrangements with creditors
• Support in negotiations with HMRC on Time-To-Pay arrangements
• Providing advice to a business wanting to buy assets from an administrator
• Our tax colleagues can provide input around the most tax efficient way to exit a business
• Advice around solvent winding up vs dissolution
Members’ Voluntary Liquidation: Steps to be taken
Shona and her team provided robust advice around the steps required prior to the liquidation so that matters could be dealt with in an efficient manner as possible. Advice was also provided around directors duties and the different legal positions of shareholders, creditors and directors. The whole liquidation process was smooth and the liquidation itself concluded within 7 months.
Shareholder and creditor, Moy Burn Company Limited
I would like to thank you, Lynn and Margaret for completing the liquidation of my company.
From my perspective the whole process was simple and I am grateful to you all for making it that way.
I was pleased that the cost was exactly as stated at the outset and the liquidation was completed in just over 6 months.
Director and Shareholder
I have dealt with MHA Henderson Loggie over a period in excess of 40 years. They provide the breadth of knowledge and experience which is required in the business environment which is becoming ever more complex and demanding. They are able to give good practical advice cutting through jargon and technical language quickly and efficiently.
Throughout a particularly challenging company liquidation (from petition to property sale) following the tragic death of a director, Margaret was an indispensable colleague. Queries and snags which might well have caused delay were dealt with promptly, to the benefit of customer satisfaction and minimising stress. The combination of these two skills make Margaret a pleasure to work with in what can be very difficult circumstances. She is unflappable.
MHA Henderson Loggie have always given us their best attention with a straightforward explanation of the predicaments that our clients have found themselves in. They have treated our clients with respect and sensitivity whilst always managing to convey the gravity of the situation in a firm and concise manner. Where this advice results in insolvency, this caring attitude continues and helps clients through what is normally an extremely difficult time.
My company is a family business and it had been doing very well for a number of years. However, we suffered an unexpected loss of several key personnel in a very short space of time. This impacted on our business considerably and more specifically on our subsidiary company. We also had a number of clients delaying final payments on projects which meant we found it very difficult to meet our ongoing liabilities putting the entire family business in jeopardy.
My accountant recommended I speak to MHA Henderson Loggie who guided me through the available options and a liquidator was appointed to handle our struggling subsidiary. This was a huge relief. MHA Henderson Loggie dealt with the details in a timely and professional manner that allowed me to concentrate on rebuilding the family business which would likely not have survived without their assistance at a very critical and difficult time.