Professional Relationships
At Horwath Bastow Charleton we are experienced financial professionals and have built a reputation for excellence and integrity in the services we provide not just to our clients but also in our relationships with fellow professional service firms, state agencies and court bodies.
Insolvency and business rescue is a highly complex and regulated area; companies and directors need strong legal and financial advice to ensure they are fulfilling all statutory obligations. Financial institutions and creditors need to be confident they are dealing with an insolvency practitioner who has the practical knowledge and resources to implement the best solution – ranging from restructuring the business to liquidation – in the most time and cost efficient manner.
Relationships with Solicitors
Insolvency is a very important area for the legal profession. Horwath Bastow Charleton has always had a rescue and insolvency division and we have worked closely with a number of legal practices throughout the country in liquidation, examinership and receivership assignments.
The volume of work for legal firms in this area includes: - Advising the company pre liquidation / examinership
- Preparation of petitions, grounding affidavits etc.
- Advising the liquidator / examiner
- Advising the shareholders / directors personally
- Conveyancing property as part of rescue and insolvency work
Relationships with Auditors
An auditor cannot accept the appointment of a creditors’ voluntary liquidator or members’ voluntary liquidator. Therefore a need arises for the input of an objective insolvency practitioner to advise on the most appropriate course of action. We will meet with auditors and their client without obligation and give you our anaylsis. We will act with integrity and will avoid acting for the directors should they recommence in business.
We will gladly discuss winding up options with company auditors on a without obligation basis. In addition we recognise the work required by the auditor in the pre-liquidation stage - such as preparing the statement of affairs. We encourage the auditors to be paid for this work prior to the company going into liquidation, as this is permissible under the Companies Acts. It does not lead to a preferential payment to the auditor.
Relationships with Banks, the Revenue and the Court
We act as receivers recovering a specific liability for a debenture holder. We are also experienced financial negotiators and have developed good relationships with a number of large and medium-sized financial institutions.
We act as Revenue-appointed or court-appointed liquidators ensuring all legal requirements are met, assets are secured and creditors are paid in the correct order. We also have a large tax department whose expertise we utilise to ensure all Revenue concerns are addressed.
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