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Our team of insolvency professionals regularly work on various types of liquidations including:

  • Voluntary liquidations

  • Company liquidations by the Court

  • Strike off of companies

Members’ and Creditors Voluntary liquidations
When shareholders or creditors of a company no longer require a company, they will, often, close it through a Voluntary Liquidation.

We can assist in all stages of the liquidation process. We are regularly appointed Liquidators in order to collect assets and pay liabilities in a timely and orderly manner and distribute any balance to the rightful shareholders and contributors.

Compulsory liquidations
The court may on the petition of, usually, creditor order the winding up of a company compulsorily. This is, usually, the result of a company being unable to Pay its debts. Nexia Insolv is usually appointed Liquidator, in order to initiate and complete the liquidation by:

  • Taking possession and protect assets
  • Proceed with payment of creditors
  • If a balance of assets remains after payment of all creditors such balance is returned to shareholders.


A Receivership is an enforcement remedy used by lenders (usually banks) when a company breaches the terms of its borrowings. It is only available to creditors holding security, which includes a floating charge over all, or substantially all, of the assets of a company.

We would accept an appointment as a Receiver:

  • Over all or part of the property of a company
  • In order to pay off debenture holders. Once this is achieved the Receiver requests his/her release from the Official Receiver.

We would also accept appointment as a Manager and manage the business until lender receives payment for his lending, but the Manager has personal liability for losses incurred by the company while acting as Manager. We would ensure regular, bespoke reporting, as would be expected, where the principal duty of care is to the Appointer (usually a bank).


Bankruptcy is the process whereby a natural person is unable to pay debts incurred and/or are due and, as such, all his available assets are used to indemnify all of his creditors on a pro-rata basis.

We can advise individuals whether bankruptcy is an option to be considered. An individual with insufficient assets is usually preferable to opt for bankruptcy. 

In case of bankruptcy we will accept an appointment as Trustee in Bankruptcy. Our specialist team will assess whether the bankrupt has surplus income over and above his/her debts, claim any property acquired by the bankrupt, for as long as the bankrupt remains undischarged from his bankruptcy, recover any voidable dispositions and reverse any fraudulent transactions.

We can advise the bankrupt and their representatives on rights to retain property, including pension rights. We can also assess the possibility of an arrangement with his creditors.

Business/Debt Restructuring

Corporate Simplification
A group structure can become complex over time, with significant time wasted in accounting for inter-company transactions and dealing with unnecessary corporate governance.

Simplifying a corporate structure requires corporate tax know-how, as well as restructuring and recovery expertise, in order to identify tax efficiencies and avoid unwanted tax liabilities. Sometimes Voluntary Liquidations of companies are used to facilitate the restructure and hasten the dissolution of surplus group companies.

We will provide a solution to funders or joint venture partners in dispute, as well as to others, in the areas of:

  • Contract completion under supervision
  • Refinancing
  • Property development

Schemes of Arrangement
We work closely with management and their advisers to prepare scheme documents agree timetables, and liaise with key stakeholders to ensure schemes are properly implemented and concluded.

Debt for equity swaps.
In a debt-for-equity swap, creditors of a business agree to cancel some, or all of their debt, in exchange for equity in a business. These deals tend to occur when creditors see no benefit in forcing a company into formal insolvency procedure. Instead, they would prefer to take control of the business as a going concern.

Our business restructuring team can assist with planning and implementing the most effective debt for equity swap option.

Turnaround – Credit Control Management

We can provide new management to improve performance within an underperforming business and to implement a financial restructure.

Operational Restructuring

  • advice on the strategic options to ensure the survival of a business
  • prepare and implement a comprehensive business plan
  • evaluate financial models with industry expertise
  • indicate the anticipated return to stakeholders
  • advise on the sale of distressed businesses and orphan subsidiaries
  • assist with refinancing

Interim Management
We can work alongside existing management to:

  • provide chief restructuring officers, new board appointments and/or interim management
  • implement a business restructure
  • enhance performance
  • assist with the sale of assets
  • reduce overheads
  • assist with a managed exit

Cash Flow Management and Credit Control
We can manage the short-term funding requirements of any business turnaround with the:

  • management and collection of debts
  • suitable phasing of supplier payments
  • sale of non-core assets, including stock to generate cash
  • comprehensive cash flow forecasts
  • stakeholder communication

Debt Collection

If a debt is collectable we will collect it. No matter how old, large or small the debt and regardless of industry sector or location, we treat each debt as a new challenge.


  • More ingenuity
  • More Persistence
  • More Integrity
  • More Reporting
You will have:
  • Your our own named account manager as a constant point of contact
  • More information faster
  • Tailor made reporting procedures
  • News from us as soon as the debt is collected

Corporate Advisory

Business and Liquidity Reviews
Business and liquidity reviews are commissioned by lenders keen to establish their options when a business is insolvent or close to insolvency.

Our reviews include an assessment of management forecasts and proposals for resolving the company's problems. It can be formally presented to financial stakeholders, with recommendations to both management and lenders as required.

Contingency Planning
Contingency planning involves working with management to find the best route out of a crisis.

At the same time we will prepare a plan in the event that the best route cannot be achieved. This could mean implementing an insolvency procedure at short notice or seeking an alternative option should certain external events occur.

Debt Advisory
We can provide senior Lenders with:

  • a viable review
  • monitoring reports
  • turnaround and restructuring services
  • solvency reviews
  • insolvency appointments e.g. Receivers and/or Managers