Debt Restructuring

Responding to a Statutory Demand

Insolvency is a balance sheet calculation, not a character judgment. In the last 11 months, 43 West Yorkshire firms have received winding-up threats without prior warning. Upon receiving a formal notice, immediate analysis of the last 3 quarterly P&L statements is required. Lenders typically avoid taking possession of specialized equipment due to the 60% haircut often taken at auction.