Administration – payment in full to fixed charge holder
11 July 2017: Peter Windatt of BRI Business Recovery and Insolvency was appointed Administrator of a company on 27 January 2017. The matter is being dealt with by BRI’s Northampton Office with Peter securing the sale of the company’s goodwill in late May 2017.
The company’s bank held a fixed and floating charge over the company’s assets. Goodwill is deemed a fixed asset with the bank’s indebtedness being paid in full on 13 June 2017.
Should you have any clients that are experiencing financial difficulties and need advice in respect of the insolvency procedures available (both corporate and personal) then please contact any of the BRI team for guidance.