corporate rescue and turnaround
Corporate Rescue and Turnaround is the process whereby a licensed Insolvency Practitioner ( JIEB qualified ) provides impartial advice and assistance to a company ( if approached at an early enough stage ), who is experiencing severe financial problems . By discussing a comprehensive plan of action with the client which can involve a rescue and turnaround business strategy, the aim of the Insolvency Practitioner is to provide the best possible financial outcome for all parties concerned. If this is not possible, the IP is responsible for the selling of the debtors assets, agreeing creditors claims and distributing money collected to the creditors. The insolvency practitioner will advise corporates, lenders and other key stakeholders who are experiencing poor financial performance, and cash flow challenges. The IP will work with Senior Management to identify options and solutions from an impartial viewpoint to provide a platform for recovery, as well as preserving business value while dealing with diverse challenges. If Insolvency is the only option available to an Organisation, the IP will suggest the following measures:
- Working with Senior Management, Stakeholders etc pre-insolvency, to maximise the potential sale of the business, the preservation of employees, and financial recovery for the creditors. The IP will devise, implement and manage the entire business sale process and negotiate contracts.
- The association of Business Recovery Professionals, is a not for profit organisation known by its brand name R3 which stands for rescue, recovery and renewal. It is a professional association for business recovery , corporate reconstruction, insolvency and turnaround specialists in the united kingdom. The majority of Insolvency Practitioners are affiliated with R3, and are found in its directory listing Company names and contacts.
RB Forensics Limited enjoys a close working partnership with many Insolvency practitioners with leading professional service organisations. RB Forensics limited, have introduced many highly regarded specialists to clients for their substantial knowledge and expertise in corporate recovery and turnaround. Key skill set which RB Forensics limited consider necessary for the successful introduction of an Insolvency practitioner are:
- Advisory and restructuring experience - Diagnostic review and detailed analysis of companies' balance sheet and trading performance to identify causes of distress, and advise on best course of action.
- Management information effectiveness when identifying company weakness relating to cash flow forecasts and business projection. Solutions/implementation/contingency planning.
- Evaluation of insolvency options while working with senior management, banking panels and stakeholders' to maximize business potential for the sale of a company and to deliver a sympathetic and sensitive commercial resolution ,is necessary for all concerned.