Business Case Studies
Case Study - Investing personal funds in an ailing business
A small printing company was coming under pressure from increasing competition. The sole director and majority shareholder had to decide whether to invest further personal funds in the ailing business or accept that the business could not survive and move on to something new. We were able to take a dispassionate view of the situation and help him reach that difficult decision.
(Banks and other major creditors with a vested interest often encourage directors to give personal guarantees or mortgages on personal property to secure existing debts. That may not be the best way to deal with a wider problem and good advice is needed before making further commitments to a business in difficulty).
Case Study - Professional practice bankruptcy
A Solicitor was facing bankruptcy for business dealings not related to his otherwise profitable practice. Our insolvency partner was able to negotiate a formal voluntary arrangement with all creditors which avoided bankruptcy and saved the solicitor's professional qualification which would have been withdrawn had he become bankrupt.
(The ramifications for professionals can be severe in bankruptcy, their licensing body will often withdraw their right to practice. We have experience in helping many of the professions such as chartered surveyors, solicitors, doctors, dentists and accountants).
Case Study - Pressures from major creditors
An agricultural contractor was coming under pressure from a major creditor to give them title to essential business assets. We were able to explain the implications for the business and offer a solution which satisfied all creditors whilst enabling the business to continue trading.
(The problem of favouring one heavily pressing creditor is a common one. This is rarely a good idea as it is often only a short term solution, closing off a more general approach to all creditors).
Case Study - Protection from creditors
A nationwide company in the HGV service sector needed some protection from creditors to re-organise and close some depots to return to profitability. We were able to help them take advantage of the new insolvency regime and saved 80 out of 100 jobs that would otherwise have been lost. The company is still in business.
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Business Case Studies
Discover how Monahans helped various businesses in difficulty.