Beware Unregulated Advisers!
By Tim Corfield
Would you go to an unqualified physician for a surgical operation? No.
So, why do so many directors seek advice from unqualified, unregulated, possibly uninsured advisers? The most likely explanation is, of course, they don't know and they don't understand the importance of getting the right advice when their company is facing financial difficulties.
Help is at hand! R3 (Association of Business Recovery Professionals) have issued a user friendly booklet to help guide directors when they are faced with these problems - have a look yourself.
I suspect unqualified advisers won’t make this available!
Only licensed insolvency practitioners (IP's) can carry out, legally, an insolvency procedure, such as a creditors’ voluntary liquidation, company voluntary arrangement or administration. Any unlicensed adviser would still need to refer a director to a licensed IP to carry out a formal insolvency procedure which, in itself, would represent an immediate duplication of costs.
Griffin & King have been insolvency practitioners since 1986 - that's 30 years of helping people in financial difficulties - that's what we do, that's all we do. We get most of our referrals from local professionals which means you can trust us to help your clients through their most difficult times. Have a look at some of our recent testimonials.
If you have a client that needs insolvency advice please call me, Tim Corfield or any one of my team. We'd be pleased to help.
Griffin and King have offices in Rugeley, Stafford and various other locations throughout the UK.