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Recovery Services

Small business financial recovery and receivership

For businesses that are experiencing financial hardship, external advisory advice may be something to consider. 

Oldhams Advisory Services can point in the right direction and help you understand the options that are available to you.

Receivership is the process whereby a company is taken over by a receiver who is appointed by the court. The receiver then manages the company’s affairs and tries to sell it as a going concern. This can be a good option for businesses that are struggling to keep their head above water, but it is important to note that there is no guarantee of success.

Safe harbours are intended to provide a degree of legal protection or immunity to organizations that follow certain guidelines or standards, in order to encourage compliance and minimize risk.

Voluntary administration is a legal process that is designed to provide a company with the opportunity to restructure its affairs and potentially avoid bankruptcy or liquidation, in order to continue operating as a going concern.

A deed of company arrangement (DOCA) is used while restructuring a company. Unlike bankruptcy it allows a company to restructure its debts and other obligations in a way that allows it to continue operating.

 

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