Insolvency

The vital way to avoid insolvency is to get help as soon as the first signs of struggle appear. The experienced team at Stewart, Tracy & Mylon can assist and guide you in identifying problem areas and suggest solutions to improve the position of the company. Relevant and timely expert advice can potentially save your business from liquidation or receivership.

 

Receivership entails someone being appointed to raise funds within the company to repay a financier. Liquidation becomes necessary when so many of the company assets are sold that it cannot continue its daily business. A liquidator disposes of all the company assets, repays the creditors, and the company ceases to exist.

 

In the event that liquidation or receivership is necessary, Stewart, Tracy & Mylon has a good working relationship with a specialist in this field and can assist in the process. If your business is having financial and/or operational difficulties, practical and discerning action is the key to avoid, or at least minimise, the ramifications.