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Use of Specialist Advice to Enhance Recoveries

In March 2009 we were appointed liquidator of a plumbing & Heating contractor based in Bristol. There was a substantial book debt ledger relating to retentions on completed contracts and also a number of contracts that at the time of ceasing to trade, were still in progress.

We worked with specialist construction surveyors to assess the contracts and obtain the best settlement possible in relation to these. In addition we successfully made an insurance claim in respect of damage caused to one of the sites by sub-contractor and received a substantial corporation tax refund. Asset realisation totalled £214k which enabled preferential creditors to be paid in full and a substantial dividend paid to unsecured creditors.  

I approached liquidation with trepidation not knowing what to expect after having run the business for 30 years. I was led gently through the procedure without embarrassment or pressureDirector of boutique clothing store

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