Informal Arrangements

Introduction Company Voluntary Arrangement Administration Order Members Voluntary Liquidation S425 Scheme of Arrangement Informal Agreement Print option

Where possible, it is our objective at BRA to avoid formal recovery and insolvency proceedings, which are by their very nature expensive and undoubtedly affect the ability of companies to trade as they are unlikely to obtain credit from suppliers. This in turn is likely to reduce the prospects for survival.

Although consideration will in all instances be given to dealing with financial difficulties informally, experience suggests that these type of arrangements more often than not are only successful when handling a small number of creditors. Agreement by creditors to the informal proposals put forward will bind them on a contractual basis. In these circumstances BRA will act as an intermediary by putting the proposals to the creditors whilst supervising the informal arrangement. Areas where our involvement can be of particular assistance is often in reaching repayment proposals with Crown departments who feel more secure of the prospects of the proposals succeeding.

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