Restructuring & Recovery

If you or your business are experiencing financial difficulties, we can advise on your best course of action and options available, including your duties as a Director and whether a rescue is possible for your business.

Gary

Gary Digney

Restructuring & Recovery Partner

Contact Gary Meet the team

Who we can help

  • CREDITORS
  • DIRECTORS
  • INDIVIDUALS
  • SHAREHOLDERS
  • UK, IRISH & INTERNATIONAL BUSINESSES

How we can help

  • INDIVIDUAL VOLUNTARY ARRANGEMENT (IVA)
  • PERSONAL INSOLVENCY ARRANGEMENT
  • DEBT SETTLEMENT ARRANGEMENT
  • NEGATIVE EQUITY SOLUTIONS
  • BANKRUPTCY
  • COMPANY VOLUNTARY AGREEMENT (CVA)
  • CORPORATE RESTRUCTURING & ADVISORY
  • TURNAROUND MANAGEMENT
  • ADMINISTRATION
  • LIQUIDATION

WORKING WITH YOU TO FIND THE BEST SOLUTION

Get in touch

The sooner you talk to us, the sooner we can put your mind at ease. 

Over half a million businesses in the UK and Ireland are struggling financially amid soaring inflation, energy prices and the rollback of government Covid-19 support. With this unrelenting pressure on cash flow due to factors outside of their control, we have seen an increasing demand for restructuring and recovery advice. It is important to remember – you are not alone and there is help available. 

Facing financial difficulties is never easy, but our support is focused on finding the best solution for you. 

When you or your business is in financial difficulty, it’s important to act quickly – to assess your options and tackle the problem head-on. Our Debt Restructuring & Recovery Specialists, made up of licenced insolvency practitioners and personal insolvency practitioners are qualified to act in Northern Ireland, the United Kingdom and Ireland. What’s more, our innovative solutions and landmark deals have been branded ‘Game Changers in Debt Recovery’ by experts. 

TURNAROUND MANAGEMENT

Our corporate restructuring and recovery advisors provide financial and operational turnaround management solutions.  Our primary focus is to stabilise your business and identify workable strategies to enable you to return to growth.

Whether through restructuring, performance management and monitoring, strategic advice, refinancing or other turnaround management solutions, our business advisors will work with your creditors, debtors, lenders and shareholders to preserve value and enable your business to emerge stronger from periods of distress. 

Speak to us

  • The knowledge and expertise within AAB's Taxation Department ensure that my company benefits to the full from available allowances. I would encourage likeminded companies to employ professional services such as those offered by AAB's tax team.

    Brian Gribble, Online Electronics Limited

  • The team have a commercial approach that adds value beyond the standard scope of services, we also benefited greatly from being able to draw on the technical knowledge and industry expertise within the wider AAB Group.

    Ben Leslie, Puma Private Equity

  • As a smaller sized business, it is a comfort to know that our payroll is being taken care of by the experts and we can concentrate on supporting other areas of our business.

    Barry R Moir, Superior-Wild Well Energy Services Limited

  • On announcement from the Government that IR35 changes were to be postponed, AAB were in touch instantly to discuss the best way forward and to assist with the Company’s communication to contractors surrounding this.

    Finance Director, Leading Oil & Gas Engineering Company

COMPANY CLOSURE

CLOSING SOLVENT COMPANIES

If you’re a shareholder or director looking to cease trading or close down a solvent company, there are two options to consider: Members Voluntary Liquidations (MVLs) or Strike Off. 

For companies with minimal remaining assets, few creditors, and no significant tax matters, strike off may be the appropriate choice. This is a quick process and if there are no objections, the company can be dissolved within two months of the application. 

On the other hand, an MVL is suitable for companies with substantial cash or physical assets to be distributed to shareholders. This option offers tax efficiencies and ensures that the assets are distributed as quickly as possible. Our experienced liquidators will handle all matters related to the MVL, including payment of creditors, while providing peace of mind to directors and shareholders. 

Speak to our team

COMPANY CLOSURE

FORMAL INSOLVENCY

When a company becomes insolvent, meaning its liabilities exceed its assets or it is unable to pay its debts on time, it’s essential to understand the implications as a director. Your responsibilities shift from the shareholders to the creditors. In such cases, formal insolvency processes are available. 

Administration is a formal insolvency procedure aimed at rescuing the company as a going concern. The appointed Administrator can trade the company and market its business and assets for sale. If a going concern sale is not feasible, the Administrator will wind up the company’s assets for the benefit of creditors. 

Liquidation becomes the typical outcome when a successful turnaround is not possible. This involves either Court Liquidations or Creditors’ Voluntary Liquidations (CVLs). The Liquidator’s duties include realising the company’s assets, assisting creditors and employees, settling tax affairs, conducting statutory investigations, adjudicating creditor claims, and distributing funds. 

Meet our team

BUSINESS RESCUE & RECOVERY

If your company is in financial distress, it’s crucial to seek assistance as early as possible. This allows us to explore various options for rescuing and recovering your business. Our solutions may include refinancing, selling the business through accelerated mergers and acquisitions (AMA), implementing moratoriums, creating new restructuring plans, considering Company Voluntary Arrangements (CVAs), or utilising the advantages of pre-pack administrations/administrations. We’ll work closely with you, the directors, shareholders, and all stakeholders to determine the most suitable solution that maximises the outcome for all parties involved. 

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PERSONAL INSOLVENCY

If you are personally dealing with debt and financial worries, there are various options available to you. Our licensed Personal Insolvency Practitioners (PIPs) and compassionate team will provide clear explanations and guidance on the best course of action. We understand the uncertainty you may be feeling, so don’t hesitate to reach out to us as soon as possible. 

Get in touch

ADVICE YOU CAN TRUST

Appointed on over 1000 cases across Ireland and UK, we offer a range of debt restructuring and recovery solutions for the benefit off all stakeholders that are tailored to your specific needs. Whether you’re dealing with a distressed situation or looking to close down a solvent company, our local experts across Ireland and the UK are on hand with the expertise to assist you. 

Debt Restructuring & Recovery Options specific to Northern Ireland and the United Kingdom include: 

  • Administration
  • Company Voluntary Arrangement 
  • Restructuring Plan 
  • Liquidation 
  • Receivership Members’ Voluntary Liquidation 
  • Individual Voluntary Arrangement 
  • Bankruptcy

Debt Restructuring & Recovery Options specific to Ireland include: 

  • SCARP/Examinership 
  • Liquidation 
  • Receivership 
  • Members’ Voluntary Liquidation 
  • Personal Insolvency Arrangement 
  • Debt Settlement Arrangement 
  • Bankruptcy 

Debt Advisory Options include: 

  • Independent Business Review 
  • Options Review 
  • Turnaround Management 

INSOLVENCY & LITIGATION

If you realise your business is insolvent or if you are experiencing personal debt and money worries, it can make it hard to see any way forward. We are here to support you and show you the options. It may still be possible to set up a rescue plan, and our team will assess your liabilities and assets, explain your position and advise you on the correct course of action.  

The key is to speak to us as early as possible. By getting to grips with the issues early on, we’re better placed to find a solution. 

Find out about Insolvency & Litigation
ADVICE YOU CAN TRUST

FORENSIC ACCOUNTING FOR EFFECTIVE RESTRUCTURING & RECOVERY

Restructuring a business can be a daunting and stressful process. We recognise your concerns and offer specialised forensic accounting services to support you through these challenges. Our experienced team conducts thorough investigations to identify and address fraud, assess financial health, and develop effective restructuring strategies tailored to your business needs. Our goal is to help you recover and thrive, providing the expertise and support needed for a stable and prosperous future. If your business is dealing with insolvency, liquidation, or bankruptcy, we can also provide support to guide you through these difficult times. Our expertise covers all forms of insolvency, including administration, receivership, liquidations, company voluntary arrangements, and members voluntary liquidations. We conduct comprehensive investigations, provide litigation support, and offer expert testimony to help resolve financial disputes. 

Start Your Business Recovery with Our Forensic Accounting Services

OUR ADVISORY SERVICE

Whether you’re a struggling company, concerned creditor, or stakeholder worried about financial losses, we’re here to help. Our advisory service covers a wide range of solutions, including business restructuring, refinancing, recapitalising, accelerated mergers and acquisitions (M&A), and more. We can also assist directors to ensure they fulfill their duties responsibly and avoid potential personal liabilities. 

For creditors and stakeholders, we offer support with debt recovery and provide advice on strategies for maximising recoveries. Additionally, our team can conduct Independent Business Reviews to assess a company’s financial status and evaluate available options. 

Contact us today to discuss your specific situation and find the most suitable solution for your needs. 

Providing practical, positive advice and guidance, we help even the most distressed through tough periods and challenges. Whether your company is looking to restructure or cease trade, an individual facing insolvency, or a creditor needing support to recover debts, we can help you identify the most effective way forward. 

Our objective is to come alongside you and relieve the pressure by negotiating on your behalf with creditors, HM Revenue and Customs, the Revenue Commissioner and banks. Via our extensive business network, we also have access to funding options, if appropriate, such as venture capital, invoice finance and asset-backed lending. 

To understand your situation fully, we offer a no-obligation free initial review. Then we work with colleagues who are specialists in everything from tax and assurance to business strategy, so you can be sure you receive all the knowledge and insight to make the right decisions. 

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UNITED KINGDOM + IRELAND + INTERNATIONAL