Turpin Barker Armstrong Insolvency Practitioners Review

Under UK law, a company is considered insolvent if it cannot pay its debts as they become due or if it’s liabilities outweigh its assets.

Turpin Barker Armstrong is a Sutton and West Byfleet-based group of qualified insolvency practitioners. They provide professional advice, clear debt advice and personal insolvency services to businesses and individuals in London, Surrey, the South East, and the United Kingdom.

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Learn more about this friendly professional team in this Turpin Barker Armstrong Insolvency Practitioners review.

Turpin Barker Armstrong Insolvency Practitioners Overview

Turpin Barker Armstrong Insolvency Practitioners provides competent, confidential, and sensitive solutions to their client’s financial concerns. As insolvency counsellors, they focus on the benefits of attempting to salvage enterprises through turnaround and restructuring, as well as Company Voluntary Arrangements (CVA) and Individual Voluntary Arrangements (IVA).

If these options aren’t available, they can help with administration, liquidation, and acting as LPA Receivers. They can also assist the entrepreneur with a Members Voluntary Liquidation, which allows him to exit his business (MVL). This service can also be used after the firm has reached the end of its life cycle or if you require assistance striking off the organisation.

Services Offered by Turpin Barker Armstrong Insolvency Practitioners

Turpin Baker Armstrong Insolvency Practitioners offers the following services:

Restructuring a Company

R3 business recovery professionals include the Turpin Barker Armstrong team. R3 has created and distributed a free handbook to assist directors in getting back to work.

Company Administration

In most cases, an administration procedure is employed when a sound underlying firm could be saved through restructuring or sold to better creditors’ results than a liquidation.

An administration must meet one or more of the following legislative objectives in addition to providing legal protection, in which creditors can only sue the firm with the permission of the court:

To save the business as a going concern;
To get a better result for all of the company’s creditors; and
To sell the property to pay one or more secured or preferential creditors a distribution.

Company Voluntary Arrangement (CVA)

A Corporation Voluntary Arrangement, or CVA, can be a powerful instrument when a fundamentally sustainable company faces a financial crisis. It can be a helpful instrument for preserving the business’s survival while also ensuring that its creditors are treated fairly. A CVA can be more appealing than administration, liquidation, or administrative receivership.

A Corporation Voluntary Arrangement is an agreement between a company and its creditors to repay them from future revenues or the proceeds of the sale of assets no longer needed by the company.

Moratorium

The new moratorium process was created to give firms in financial trouble time to assess their situation and negotiate with creditors. If a company has been struggling due to Covid-19, the new type of moratorium may provide the best chance to save the company.

It essentially operates as a protective bubble surrounding the company, preventing creditors from taking quick enforcement action, leading to the company’s bankruptcy.

The moratorium prevents creditors from pursuing legal action against the company, maximising its chances of survival. It also helps the country’s economic revival by protecting jobs. Struggling companies gain more time to figure out what they need to do.

Business Turnaround

If your firm is in danger or is expected to face challenges shortly, their primary goal is to save it as a going concern. This includes considering the new moratorium, a unique mechanism available to assist enterprises in distress.

Turpin Barker Armstrong Insolvency Practitioners examine all available corporate recovery options, and their services and talents can help implement most business rescue strategies.

Pre-Pack Administration

A Pre Pack administration is a valuable and well-established insolvency method that allows a business in financial distress to be sold quickly and efficiently. Before an administrator’s appointment, all or part of the business and its assets are negotiated and agreed upon. A pre-pack can deliver the best outcome for everyone involved in the right conditions.

Closing a Company

Turpin Barker Armstrong is a licensed insolvency firm that provides insolvency advice. They have exit possibilities that are only available to insolvency professionals. They will probably have a Business Exit Solution to fit your demands if you want to close your firm.

Creditors’ Voluntary Liquidation (CVL)

A Creditors’ Voluntary Liquidation, or CVL, is a voluntary process that allows a company’s directors to initiate a company’s orderly wound up. When a company’s balance sheet is insolvent, and it cannot pay its liabilities as they become due, the only choice is to discontinue operations.

The liquidation or ‘winding up’ procedure allows you to use the company’s assets to pay off its obligations, with any remaining funds going to its owners.

Court Winding Up

A creditor who owes a debt of £750 or more to a firm can ask the court to put the company into liquidation. This usually occurs when a formal demand for payment has been served. The debtor corporation has not resolved the debt or established an agreement to settle the obligation within 21 days.

Members Voluntary Liquidation (MVL)

A Members’ Voluntary Liquidation (MVL) is a mechanism that allows the directors and shareholders of a solvent company to close it down and appoint a liquidator to realise the remaining assets and discharge any lingering liabilities. The money that is left over can subsequently be given to shareholders.

Individual Insolvency Services

Turpin Barker Armstrong understands how difficult and unpleasant it may be to discuss debt concerns, let alone seek help if money is tight. If you are relying on your credit card to pay for necessities like food or rent, you should seek help as soon as possible to avoid your financial troubles becoming overwhelming.

Turpin Barker Armstrong can assist and advise you on various methods for coping with financial challenges, including budgeting, debt management solutions, and statutory insolvency proceedings.

Bankruptcy

The knowledge that they now have a “clean slate” concerning their debts and can start anew with their life can frequently offer an individual a sense of comfort. Their financial troubles have been adequately addressed and, to some extent, resolved.

If your obligations are out of control and you don’t see any other way out, you may believe bankruptcy is your only alternative. A creditor who is owed at least £5,000.00 can apply for a Bankruptcy Order to make you bankrupt in addition to filing for bankruptcy yourself.

Individual Voluntary Arrangement (IVA)

Talking to Turpin Barker Armstrong about Individual Voluntary Arrangements is one simple step toward a new future. An Individual Voluntary Arrangement, or IVA, allows people to reclaim control of their life and become debt-free.

An individual voluntary arrangement (IVA) is a mechanism used to avoid bankruptcy and provide creditors with a better return than bankruptcy. A bankrupt individual or unable to pay their obligations when they become due may propose an IVA to their creditors.

Other Insolvency Services

Turpin Barker Armstrong also provides the following insolvency services for businesses:

Directors Loan Account

Suppose a company director (or a close relative) receives money from the company that isn’t compensation, dividend, or expense payback. In that case, it’s critical to keep detailed records of what money was borrowed from or paid into the company. A Directors Loan Account, or DLA, is the name for these records.

Administrative Receivership

Turpin Barker Armstrong employs licensed insolvency practitioners authorised to act as corporate receivers. They also have LPA receivership experience when a lender appoints a receiver over a property per the Land and Property Act 1925.

Directors’ Responsibilities and Protection

Director responsibilities are complicated concerns that can have a personal impact on a director if mishandled. As a result, Turner Barker Armstrong highly advises seeking expert assistance if you have any questions about your responsibilities and duties. They briefly consider the following points below:

Personal Guarantees / Directors Guarantees
Insolvency-related risks and responsibilities
Obligations under the Companies Act

They have experience considering and advising on all of these concerns as Licensed Insolvency Practitioners.

Turpin Barker Armstrong Insolvency Practitioners Contact Details

It cannot be overstated how critical it is to act immediately. If you are concerned about the future of your business, are worried about not being able to pay your rent, have tax debts, are requesting suppliers for extra time to pay, or are concerned about how you will pay your employees, contact Turpin Barker Armstrong.

Get experienced insolvency guidance from the appropriate people and get the best possible result for you and your company.

Address 1: Allen House, 1 Westmead Road, Sutton, Surrey, SM1 4LA
Address 2: 5 Park Court, Pyrford Road, West Byfleet, Surrey, KT14 6SD
Telephone 1: 0208 661 7878
Telephone 2: 01932 336 149
Mobile: 07464 675 571
Email: [email protected]

Turpin Barker Armstrong Insolvency Practitioners Reviews

Here are some reviews about Turpin Barker Armstrong Insolvency Practitioners:

Excellent fast service at a very busy time of the year. Thank you for all your hard work guys. –Saul Whitmore

Very professional and friendly advice. Every question was answered promptly and accurately. All paperwork was explained very well, so someone who is not familiar with the complicated terms could make a conscious decision. I would highly recommend TBA to anyone who is looking for advice from down to earth people who communicate in a simple and friendly way. –Wojciech Maczka

I have been working with Turpin Barker Armstrong for a few years now, always excellent service, very professional and friendly approach to the client. Thank you to Martin and Sylwia. I would highly recommend Turpin Baker Armstrong services. –Grzegorz Purzycki

Summary

To summarise this Turpin Barker Armstrong Insolvency Practitioners review, Turpin Barker Armstrong provides tailored insolvency solutions to its clients’ challenges and straightforward, unbiased insolvency counsel to help rapidly detect concerns within the company.

They can provide remedies and processes exclusively available to members of their profession as licensed insolvency practitioners. They will almost probably have a solution to fit your needs if you wish to save your firm.

All UK Insolvency Practitioners

Here is a full list of Insolvency Practitioners in the UK: