We can conduct reviews of businesses for company owners. Such services are provided confidentially and will often only be known about by the directors. The company does not need to be insolvent for us to be able to add value. Our aim is to understand the key drivers of the business and the factors which are holding it back, and make recommendations for improvement. We can also assist with ongoing monitoring and implementation.
Expert witness assignments
McDonald Vague are industry leaders in the field of insolvency and business recovery. We are therefore ideally placed to act as expert witnesses, whether as part of formal legal proceedings, mediation, arbitration, or where parties are seeking to resolve a dispute informally.
We are able to provide opinions and examples from our own experience relating to a range of technical and best practice issues.
Realisation of security
We assist and advise secured creditors on the practical problems associated with recovering security and the effects of priority creditors on the value of the security.
Review of security documentation and trading risks
We can provide guidance relating to standard conditions of sale, retention of title clauses, Personal Property Securities Act issues and payments from customers which may later be challenged as voidable preferences. We can also provide referrals to suitably qualified commercial lawyers who can provide further assistance and draw up relevant documentation.
Preparation of statements of asset and liabilities
We can assist individuals with the preparation of statements of assets and liabilities, to present to their creditors as evidence of their net asset position and the extent of their ability to pay debts. These are usually also sworn before a solicitor. This process can often result in creditors deciding to agree to a repayment plan, where they might otherwise simply issue a bankruptcy notice.
Settlements with creditors
Following on from the above, we can also assist in negotiating full and final settlements with individual creditors, where the individual only has one or a few creditors.
Recommendation of other professionals
McDonald Vague employs a wide range of professionals as part of its daily work, and therefore has an excellent understanding of each practitioner's areas of specialisation. We are happy to make suggestions as to appropriate firms to use in the areas of accounting, tax advice, debt collection, legal work and asset disposal. We do not charge for providing such information on an informal basis.