Benedict Mackenzie specialises in business rescue and insolvency. We deal with businesses from the very large to the very small, advising directors who are struggling to keep their companies alive.

Our first priority is to turn around businesses.

Benedict Mackenzie has a proven track record in identifying solutions for challenged businesses. Each situation is unique, so you will be advised on a solution that is tailor made to help you fairly address the interests of your creditors, employees and your customers.

Much of our work comes from word of mouth recommendations and our approach is widely recognised as efficient and trustworthy.

If you are trying to raise cash to take your business forward, or to see you through a temporary cash shortage, we can carry out pre-lending reviews, independent financial reviews and stock finance audits which will assist you in your approaches to potential lenders.

You can be assured that you will have experienced individuals helping you and your business. There are many options available to businesses with financial problems; Benedict Mackenzie will offer best advice on those available to you:

Business survival:

		Trading out
		If your business has a viable future, despite your current difficult financial circumstances, you may be able to 'trade out' of your situation. Benedict Mackenzie can advise you how to secure some 'breathing space' to review your business strategy, markets and operation, which may help to secure your business's long-term survival.
		Refinancing
		Refinancing usually involves raising additional finance, either against the assets of the business and/or in the form of an equity stake in the business. Benedict Mackenzie will help you examine whether this is the right approach for your business and if so, the different options which will be of benefit to your company. We can then signpost you to the most suitable of the many sources of finance available in the market.
		Company voluntary arrangement (CVA)
		Where your company has a profitable future, a formal contract, negotiated with creditors to pay all or part of the debts out of future trading profits, could preserve the business. Benedict Mackenzie will help you to negotiate an agreement and deal with the relevant court applications to formalise it. We would also monitor any agreement you come to, to ensure it is carried out in order to give creditors the security of expert supervision. Our experience in helping put together well-structured CVAs could mean the survival of your company.
		Informal arrangement
		This is similar to a CVA (above), but the business would not enjoy the protection of a court order. An informal agreement will pay back all or part of the debts over a set time period. Benedict Mackenzie will be able to help you broker a 'deal' and monitor its progress on behalf of your creditors.
		Administration
		Administration starts with an application made to court to protect a company from its creditors to give it some breathing space while a strategy for going forward is put in place. The legislation for this procedure was overhauled in September 2003 and the Government hopes this will lead to the survival of more businesses. Benedict Mackenzie will advise on the options for the future.
Business closure:
		Members' voluntary liquidation (MVL)
		If shareholders choose to wind up a company when it is solvent and has enough money to pay all debts within one year, you can place the company into members' voluntary liquidation. An MVL is mainly used for three purposes:
	1.	Shareholders unlocking their capital and retiring.
	2.	Closing down unwanted subsidiaries.
	3.	A corporate reconstruction, where shareholders wish to separate component parts of a business.
Benedict Mackenzie can advise you of the best way to wind up the company, to settle your creditors and distribute the remaining assets among the shareholders in the most tax efficient way.
		Creditors' voluntary liquidation
		If a company does not have enough money to pay all of its debts and its business is no longer viable, the directors and shareholders may decide that a creditors' voluntary liquidation is the right option. This process allows creditors to establish their claims against the company and to be paid out of the assets if at all possible, in an orderly way. Benedict Mackenzie will help you through the process of putting your company into liquidation. We will realise any assets and distribute any surplus funds to the creditors. We will wind up all contracts and legal issues and ensure your company is taken off the register at Companies House.
		Compulsory liquidation
		The Court may make an order for the compulsory winding up of a company if a creditor who is owed over £750 petitions the Court for such an order. If an order is made, the Official Receiver will be responsible for supervising the winding up. He may ask creditors to appoint an insolvency practitioner to act as liquidator. Benedict Mackenzie can advise you if a petition for compulsory liquidation has been lodged against your company.
		Receivership
		A receivership arises if an organisation (usually a bank) with a charge over the assets of a company as security for money lent to it, appoints a Receiver to recover the debt on its behalf. This can arise when the borrowing company has defaulted on its payments.
Additional services
		Independent financial reviews
		Benedict Mackenzie offers independent financial reviews to parties having an interest in a business whether as a shareholder, lender, creditor or director. Our partners have a good relationship with the clearing banks and many other financial institutions, have carried out independent reports for lenders and are well versed in assessing a business's viability.The review will concentrate on the financial position and future prosperity of an organisation but will also include assessment of the cash requirements of the business and the suitability of management.
		Financial health check
		Benedict Mackenzie aims to provide businesses of all sizes with a personalised, practical and commercial, independent assessment. We also provide recommendations on a business's operational efficiency in management, cashflow and forward planning.We will visit your business location(s) and speak to key individuals to fully understand your business, its systems, new ideas, specific concerns and the current financial position. We may also require documentary information. All of this information will then by reviewed by us and our conclusions and recommendations will be provided to the business either at a meeting or by written report, or both depending on your requirements.