Chartered Accountants | Business Rescue and Recovery

When you have a client with financial problems refer them to an insolvency specialist. From business restructuring and corporate recovery, to liquidation, we can help.

Services for Advisers

If you are an accountant, a solicitor, a banker, charity or other professional, you may sometimes see clients with financial difficulties either in their business or in their personal life. If this specialist area is beyond your field of expertise, you may feel unable to advise your client adequately and may feel they would benefit from another specialist. In these circumstances you may prefer to call in another professional; someone you can be sure will give your clients best advice.

Maintain your relationship with your client

It can be a concern in these circumstances that you may then lose your client to this other professional; with Benedict Mackenzie you can rest assured that this will never be the case.

Benedict Mackenzie is a specialist in the areas of turnaround, recovery and insolvency. Although we are chartered accountants, we specialise in our chosen field so that you can guarantee that by recommending Benedict Mackenzie your client will not only benefit from specialist expertise, but there will be no risk to your client/adviser relationship.

Always deal with a partner

At Benedict Mackenzie we understand that your time is precious and that once you have referred a client to us, you don’t want to waste time speaking to people who do not understand what is happening with your client’s case. Therefore, when you deal with us, you will always deal with the partner looking after your client, you will have direct access to that partner and you will not be diverted to others with less expertise and knowledge.

A complete service

Our partners are highly qualified and very experienced and can advise on the full range of options for insolvency and turnaround.

Our services include:

Companies

Individuals

  • Informal arrangements
  • dividual voluntary arrangements (IVA)
  • Bankruptcy

Additional services

  • Pre-lending reviews

If a financial institution or individual is considering lending money to a business, they may wish to have the comfort of an independent report.Benedict Mackenzie provides a service to enhance the lenders own due diligence, by visiting and discussing the business with the management of the target company and providing an assessment and viability of the anticipated lend. The advantage of this report is that it will not only provide additional comfort but also free up the time of the lender who may not always have the resources or time to visit all borrowers.

  • Independent financial reviews

Our partners have a good relationship with the clearing banks and many other financial institutions. During the years they have carried out many independent reports for lenders and are well versed in assessing a business’s viability.Benedict Mackenzie offers independent financial reviews of an organisation to third parties having an interest in the business whether as a shareholder, lender, creditor or director.The review whilst concentrating on the financial position and future prosperity of an organisation will include an assessment of the cash requirements and the suitability of management.These reviews if carried out as early as possible may result in corrective action being taken that avoids formal insolvency.

  • Stock finance audits

These are done on behalf of lenders who wish to have security over their lending but are unable to secure the finance over property or other assets, and where stock, (including raw materials, work in progress or finished goods) is a significant business asset.The report will include a stock-take and a review of the adequacy of stock control, in and out. It may also need to focus on suppliers, Retention of Title clauses and the effect on the lender’s security, and if exports or imports are involved, the actual value of letters of credit and when ownership of the stock is obtained.