Can I Really Get Rid of My Debts and Keep my Business?

Yes, you can but as with many things in life nothing is simple. Fortunately we have decades of experience of putting the structures in place to make sure that you and your business are protected. We work with third party lawyers and some vetted and trusted insolvency practitioners to achieve the best result for you.

I have been served with a winding up petition. Can you help?

Yes, of course. You’ll need to move quickly but we have many strategies to deal with winding up petitions. Don’t be pressured into liquidating your company or paying a disputed debt because of a winding up petition.

Is Liquidation my Only Option?

It’s never the only option. Often it’s not the best option either. It’s certainly not something that should be rushed. It will depend on your circumstances and what result you want to achieve.

I have Personal Guarantees. What can I do?

Unfortunately is common for banks to ask for personal guarantees from directors. We have decades of experience dealing with lenders and negotiating settlements of personal guarantees.

How much do you charge?

It depends on the individual situation. We charge a minimum retainer of £2,500 payable in advance which will be offset against future charges. 

What are the advantages of dealing with you?

  1. We work only in your interests. Insolvency Practitioners because of being regulated will work against you. They will not jeapordise their licence to help you. We have no licence to protect.

  2. We are interested in saving your business or letting you walk away debt and stress free.We work with you to get the result you want.

  3. Confidentiality. An insolvency practitioner is obliged to advertise the insolvency of your business and file reports with government agencies. We’ll never do this.

  4. We provide actionable advice from people who’ve been in the trenches running businesses and from ex-insolvency practitioners and lawyers. We can give advice and strategies that your lawyer or accountant couldn’t tell you even if they were aware of them.

What’s an MVL?

An MVL is a Member’s Voluntary Liquidation. It is where your business is solvent and will be able to sell all it’s assets and pay all debts within 12 months.

What’s a CVL?

A CVL is a Creditor’s Voluntary Liquidation. This is the most common type of liquidation. The liquidator works on behalf of your Company’s creditors to dispose of the Company’s assets. He will then pay a dividend to the creditors after paying his own fees. Often the liquidator’s fees will eat up all the money realised from asset sales and there will be nothing left over for creditors.

What’s a CVA?

A CVA is a Creditor’s Voluntary Arrangement. This is for insolvent Companies who want to continue trading. You can make any kind of proposal you want to your creditors, for example pay 50% of creditors over 5 years. If 75% of your creditors accept the proposal the others are bound by it. This can be a useful strategy. It has been used frequently recently by retailers to reduce payments to landlords. We can help with strategy on this to make sure you get 75% acceptance from your creditors.

What is a nominee shareholder?

A nominee shareholder is somebody who holds the shares in a Company on your behalf. This person will appear on any public register of shareholders. Using a nominee means that you can stay anonymous. You can use a friend or relative as your nominee. We can also provide a professional nominee service.

My Situation is Urgent. How Quickly Can We Get Set Up?

While it's always better to do as much planning in advance as possible, we can move quickly and have everything you need in place within a few days.

Will I be Protected from Litigation?

If you have a limited Company nobody can pursue you personally for business debts. You can walk away from your old Company with peace of mind.

Can I use your services anonymously?

We appreciate that you want to keep your affairs confidential. If you'd rather speak to us on a no names basis to start with that's fine. Obviously the more information you can give us the better we're able to advise you.

What are aged companies?

There might be situations where transactions are put in place ‘with effect’ from an earlier date. In this case you will need a Company that’s been around for some time. We have Companies that have been around for anything from a few months to 20 years or more.

If you have any questions you'd like us to answer please email help@fortressrestructuring.com or click here

We can help with your restructuring strategy including: 

Ditch Your Business Debt

Aged Companies

Alternatives to Liquidation

Nominee Directors

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