When you started your business, the sky was the limit! Faced with challenges, it becomes necessary to take a step back and reflect on the business venture’s situation. Having a guide is the wisest decision you can make.
As a Licenced Insolvency Trustee, we can guide you in the assessment of your business’ needs and determine what solution is the most adapted to the challenges that keep you awake at night.
Your business is booming. You want to take it to the next level? Let’s look at what you do right and what can work better. We will look at your mission statement, decision process, and screen your operations.
You will receive detailed recommendations for your finances, your infrastructure, your people, and your marketing and communications.
When the business seems compromised, it is important to act quickly and efficiently. The best advice is to put all options on the table.
Our team will analyse the situation and take into consideration your ambitions, the viability of the business and the expectations of all relevant parties. A clear recommendation will either allow you to return to profitability or assist you in shutting down.
If we recommend a formal process under the Bankruptcy and Insolvency Act, or under any other act, you will be guided by a Licenced Insolvency Trustee throughout the process.
Formal proceedings will be presented by our team in a way that reflects the needs of your business.
Bankruptcy will end business operations and allow the Licenced Insolvency Trustee to liquidate the assets and make an equitable distribution to the creditors. Every step is regulated by the Act.
The notice of intention to make a proposal allows management to take a step back, with protection from creditors, in order to prepare a proposal to submit to the creditors. This proposal, or an arrangement, allows for the settlement of business debt and for the business to go back to meeting its objectives.