Turnaround & Rescue

Creditor Services

Speaking to one of our expert advisors is free of charge and could put you back on the right path and your mind at ease

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My customer is insolvent

We understand it can be frustrating when one of your customers hasn’t paid their invoices for some time and the next letter you receive concerning them is from an insolvency practitioner advising you that your customer is going into liquidation (or any other insolvency process). More often than not, there is a genuine reason for your customer’s insolvency and entering into a formal insolvency process is unavoidable and they’re acting on best advice.

Here at ICS, being insolvency practitioners ourselves, we are able to quickly digest the information being sent to you as well as liaise directly with the instructed insolvency practitioner on your behalf.

We will then report back to you, providing straightforward advice on the intended procedure, reasons stated for the company failure as well as the likelihood of you receiving a dividend from the insolvency proceedings. If, following this report, you feel that there are some anomalies in what is being communicated to creditors, we will be able to put these forwards to the instructed insolvency practitioner on your behalf.

As a creditor of a company subject to (or about to be subject to) insolvency proceedings, you have a right to participate in the proceedings, we can use our experience and insolvency expertise to assist you with the following:

  • Seek further information / clarity from the instructed insolvency practitioner
  • Deal with your proxies for voting on decision making procedures
  • Attend creditors meetings either on your behalf or accompany you
  • Report on the likelihood of you receiving a dividend
  • Assist you with your ongoing debt collection process and sales ledger control
  • Assist with more formal debt recovery procedures against your non-paying customers

If you have recently suffered a bad debt through one of your customers entering into an insolvency process such as liquidation, administration or bankruptcy and you would benefit from support to help you understand the insolvency process and make sure that your voice is being heard, our Creditor Services team is here for you.

Our expert team can help you know exactly where you stand and are here for you every step of the way. Visit our contact us page and fill in the form to get in touch or give our team a call on 0800 731 2466.

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