If you (as a secured creditor) are unable to obtain the money that is owed to you by a company, you can appoint an insolvency expert like BWA Insolvency to act as the receiver. We can manage the sale of the asset used as the original security to repay the debt that is owed to you.
Focus on repayment
We will work hard to see that you have been repaid. Once this does happen, we report to the Companies Office so the status of the company can be updated to ‘registered’ and they can start trading again. If unsecured creditors are still owed money, the business can be ordered into liquidation. We can advise you which strategy is best for you as a business, or as a creditor.