Testimonials

“I have worked with John now on several occasions and have found him to communicate to an exceptionally high standard and always in a calm, professional and well considered manner regardless of the value, volatility or impact. He is able to put people at ease and make sure the key tasks and objectives are known and achieved. John has a wealth of expertise and business acumen with an open and honest approach to clients and a real sense of doing the right thing for the right reasons.”

The latest assistance this refers to involved a company with a bright future but significant HMRC debt due to inaccurate book keeping.  As with any bump in the road, sitting down, discussing the issues at hand and looking at all options to see if and how a business can be rescued is key.  In this case a pre-pack was appropriate due to the new procedures and controls they would put in place to ensure the same issue wouldn’t occur again.  It was a challenging time for all involved and remaining calm and professional conveyed the right approach.

Late last year, we were approached by a highly-stressed director who had been forced to cease trading after the unexpected, abrupt termination of a contract with his company’s main customer. The company was left with considerable debt and little in the way of valuable assets. Nevertheless, from the first consultation onwards, BRI provided him with the necessary guidance and support at each step of the way towards our appointment as liquidators – including introducing him to a specialist solicitor to assist with a personal legal issue.

He recently emailed us with some very pleasing feedback:

‘Thanks again to you and the team for all of your help with the liquidation…it was invaluable for me.’

BRI’s role in minimising the stress for often very anxious clients is no doubt underestimated by those outside the industry. Pushing aside all the figure-work and legal compliance that forms the structure of our work, we are frequently dealing with people going through extremely tough times. We never forget that.  

It is nice when a client describes our service as ‘amazing’; when we get a double ‘amazing’ in the same feedback then clearly we are doing something right. We recently helped a director who no longer required the company as he had decided to take full time employment.  When we implemented a solvent liquidation process (also known as an MVL) and distributed the funds within a short timeframe, the director commented:

“Oh, that’s amazing”…. And…. “You guys were amazing”

We appreciate that closing a company will be completely new for most clients who come to BRI, and they are unlikely ever to have dealt with an insolvency practitioner before. BRI are proud to say that we are there for clients every step of the way and hold their hands through this process. We provide sound advice and quick turnaround times. In this case, we managed distribute the majority of the funds to the shareholders at the outset and to proceed to closure within 5 months of our appointment. At BRI, we look to make MVLs as seamless as possible.

What’s better than a client being impressed? Them being seriously impressed.  So how does one seriously impress a client, well in this case it was:

“Thank you for your advice during our consultation, we were seriously impressed with your ability to quickly decipher complex scenarios and your proposed strategies”.

With the directors and their legal team drawing a blank as to a way forward, they reached out to BRI to provide a fresh perspective on the matter. The proposed strategies referenced here involved finding a solution to deal with a scenario within which numerous investors were jockeying for position regarding expected returns on a property investment, with some parties claiming preferential status.  If the directors of the development company could not reach an agreement with the investors then potential litigation and/or an insolvency event awaited them.

They were grateful that BRI were on hand to provide a structured compromise that would see all stakeholders exit from their investment without the need for anyone to hit the button on any action that would lead to an insolvency event. We have a wealth of experience in identifying an early compromise that can help produce a much better outcome for all parties, as opposed to the need for formal processes or litigation. If you or a client need guidance or assistance with reaching a compromise with stakeholders who are threatening action, please do not hesitate to contact one of our offices for a free and confidential initial consultation.

As insolvency practitioners we not only provide advice but also provide support for our clients so it was great to hear the following from a director for whom we carried out a solvent liquidation and informed her that the liquidation and our work had concluded.

“That’s great! Thank you for the continued and always very prompt support during the liquidation process.”

The director was originally from France and so English was not her first language and therefore needed a little extra support to help her with understanding the procedures and processes we were required to follow during the MVL process.  We recognise the work we do on daily basis is unknown territory for clients, so going the extra mile to talk them through each step, without the technical jargon, is always appreciated by our clients and reassures them we are here to support at every stage of the process.

Should you wish to read a bit more about the MVL process, please click on the link below or just give the BRI team a call.

https://www.briuk.co.uk/services/members-voluntary-liquidation/

“Thank you for the great service”, Director & Shareholder of a company in an MVL

BRI were appointed liquidators of a company in a Members’ Voluntary Liquidation (“MVL”) in March 2024 whereby we have received a heart-warming testimonial from the director and shareholder of the company, highlighting the great service that BRI has provided to him.

This is something to which everyone at BRI prides themselves on; giving a great level of service to clients in a professional, timely and efficient manner. To receive recognition for the high level of service we provide is something to which we will always be grateful for and one which we will always look to highlight to everyone both inside and outside of the firm. Ultimately, this is why BRI are regarded so highly in the Midlands as we are consistently referred clients from accountants, solicitors, finance lenders, business advisors and even by directors and shareholders we have dealt with previously.

“I will highly recommend you to my friends”

Following on from above, the sentence above was also received in the same testimonial and is very rewarding to hear from a client.

At BRI, each and every case is allocated a case manager and administrator so that the lines of communication between the client and BRI is easy and concise. The two involved on this case should be very proud that the director has shown his appreciation for making his MVL journey a smooth and efficient one.

What is an MVL?

An MVL is a liquidation process for a solvent company whereby the shareholders wish to wind-up the company’s affairs whilst receiving the cash and/or assets remaining in the company after all debts have been paid in, ordinarily, a more tax efficient way than just receiving dividends.

If you are interested to know more information on the process please get in contact for a free and without obligation consultation.