2017 Legal Awards

4 Acquisition International - Legal Awards 2017 Abbey Taylor Limited is a Sheffield based firm dedicated to providing knowledgeable advice and support to clients on a range of insolvency and debt based issues. We profile the firm to learn more about the range of services it offers. bbey Taylor draws on a wealth of experience drawn from its experienced and qualified staff, who have extensive knowledge and experience in providing business recovery, liquidation, insolvency and personal debt solutions for businesses and individuals, to offer clients a range of vital services. These services include insolvency, bankruptcy and liquidation support. Specifically, the firm specialises in support for corporate insolvency, to ensure that business owners and directors receive the assistance they need. Among the core areas that the Abbey Taylor specialises in is administration, a procedure which protects the company against creditor action whilst a solution can be found. This is normally a temporary measure whilst an Insolvency Practitioner takes responsibility for the day-to-day running of the business. They will try to save the business, or part of it, and prevent any further deterioration in the company’s financial position. When a company enters into administration, it also gives time to attract investors to refinance or possibly make cuts to areas within the business so it becomes viable again. Abbey Tailor works with clients to ensure that a viable solution is found to meet the needs of everyone involved. Company: Abbey Taylor Limited Contact: Tracy Taylor Email: [email protected] Address: 112 John St, Sheffield, S2 4SW, UK Phone: 0114 292 2404 Website: www.abbeytaylor.co.uk Abbey Taylor Limited A LA170034 Another area that the firm works to support clients in is Corporate Voluntary Agreements (CVAs). CVA’s are used where there is good reason to believe that the company will be viable in the future and able to repay at least a proportion of its debts. If approved, a CVA will allow clients keep control of your company and you will be able to trade as normal. The company’s unsecured creditors (trade and HMRC) would be contacted by us and an agreement made between you and them. The arrangement would freeze the amounts owed to the company’s unsecured creditors which stops additional interest and charges being added. A proposal would be made to repay either some or all of the debts over a specific time period (usually 5 years) which would be paid on a monthly basis from the trading profits. Dependent on what the company could pay, your unsecured creditors will receive between 25% and 100% of the amount owed to them. At the end of the time period, and provided the terms and conditions of the proposal have been met, any unsecured creditors under the proposal will have been deemed to be settled in full. A lump sum contribution or re-financing of assets could also be offered and the duration of the CVA could consequently be shorter. In the current economic climate, where business is competitive, client retention is important. At Abbey Taylor, the aim is to help you make sure that firms retain their clients even in the most difficult of circumstances. The best way you can help your client when they have financial difficulties is by getting them free honest, open and practical advice from qualified professionals. As part of the process, one of the firm’s Insolvency Practitioners will be able to meet with the business’ clients on the same day, either on site, at their offices or at Abbey Taylor’s offices if confidentiality is an issue. They will then provide all parties with an honest appraisal of their situation, and if help cannot be provided then the consultation will be free. Overall, Abbey Taylor utilises its vast experience in the insolvency market to ensure that clients receive the service they need, and moving forward continuing to provide its valued clients with the level of excellence that they have come to expect from this dedicated and exceptional firm.