- LPA Receiverships
- Bankruptey Administration
- Creditors' Liquidations
- Members' Liquidations
- Company Arrangements
- Admnistrative Receiverships
- Individual Arrangements
Our success is based on a wealth of specialist knowledge and experience together with being able to offer a broad range of solutions, some of which may not lead to formal insolvency.
The unique selling point of our practice is that, unlike most insolvency practitioners, the firm’s principal, Laurence Factor, spent many years in general practice as a chartered accountant, advising clients in all aspects of their business affairs. He is therefore uniquely placed to appreciate the problems encountered in business, and how best to deal with them. Advice to his clients included the calculation and interpretation of various financial ratios which could sometimes forecast trouble ahead which was not immediately obvious. Being forewarned was being forearmed.
Whilst we are small in number, we have easy access to a number of qualified specialists, where circumstances demand. We can therefore take on work of a substantial nature enabling us to punch well above our weight.
Laurence Factor is backed up by Ben Salem and Rona Bharania, each of whom has several years’ insolvency experience, the latter studying for the exams necessary to achieve an insolvency license in due course.
We all recognise that business failure has a huge cost psychologically, financially and domestically. We therefore approach each case with sensitivity and empathy. Whilst by law, our first responsibility is to creditors, this does not prevent us from assuming an approachable and helpful attitude to the directors and bankrupts with whom we are in daily contact.
We often find that this approach yields better results for creditors than one of hostility and aggression, which can sometimes be the hallmarks of certain insolvency practitioners.
Inevitably however, many situations arise in which a business cannot be saved, and this is where a range of formal insolvency procedures become available, all of which are offered by the practice. Depending on the circumstances, these are:
Administration - Administrative Receiverships - Company Voluntary Arrangements - Creditors’ Voluntary Liquidations - Individual Voluntary Arrangements - Bankruptcy Administration - LPA Receiverships
It must also be born in mind that the skills of insolvency practitioners extend beyond looking after businesses in financial distress. Often the directors and shareholders of a successful and prosperous business seek an exit route to enjoy the fruits of their labours. This can often best be achieved by a formal, tax-efficient procedure known as a Members’ Voluntary Liquidation. Whilst this is not an insolvency procedure, it is controlled by the same legislation (The Insolvency Act 1986). As with other such procedures, it can therefore only be carried out by licensed insolvency practitioners.
Newman & Partners Insolvency & Recovery Services Limited
Managing Director- Current