The rise of zombie businesses: Why it’s no time for reckless trading
In the depths of the boom/bust cycle that started with Covid, businesses are doing it tougher than they have for years.
Receiverships allow secured creditors to protect their position
A secured creditor is able to appoint receivers over a debtor and its assets in certain circumstances, usually as a result of non-payment.
The primary function of a receiver is to secure the situation and realise the assets of the debtor in an efficient manner for the secured creditor, although the receiver holds certain duties to all creditors.
Our approach in receiverships is inclusive, practical and pragmatic. We are known for providing innovative realisation strategies to maximise the financial return.
It is often the case that a debtor’s most valuable asset is its business, and we can preserve this asset by continuing to trade on the business with a view to its sale as a going concern.
We’ll work with you to resolve the situation – contact one of our experts now.
We understand the importance of customer relationships, and are able to assist with independent debtor reviews, debtor workouts and asset selldowns outside of receivership.
We have a team of licensed insolvency practitioners and industry experts who hold specialist experience in a range of sectors and in working with all stakeholders to maximise the financial return and ensure a successful outcome.
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In the depths of the boom/bust cycle that started with Covid, businesses are doing it tougher than they have for years.
Every business owner starts out with dreams of success and wealth. Unfortunately, it’s not as easy as it seems and many businesses run into trouble at some stage in their life cycle.
Even profitable and viable companies can find themselves unable to pay their creditors. This can be due to a variety of reasons, such as the failure of a major customer, unprofitable contracts, employee theft, lengthy litigation and, unfortunately, a pandemic or extreme weather events.
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Andrew Sayers recently joined Baker Tilly Staples Rodway Waikato. In a former role Andrew was Managing Partner and International Liaison Partner of a large Australasian accounting firm.
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