Window Manufacturing Insolvency
We recently dealt with a window manufacturing company in Surrey where we needed to advise our client as to the best method of disposal. The most economic solution was to sell the assets from the premises, however, some assets had gone missing and the landlord, who lived next to premises was being difficult, blocking access to the building and threatening to break in, as he was owed rent. We had to weigh up the risk of this volatile landlord (and assets going missing), against the cost of removing the assets to sell from storage.
Advice and Solution
We were able to ‘strike a deal’ (a negotiated rent) with the landlord on behalf our client, by meeting the landlord face to face and explaining that it would result in the best net benefit to all (him being an unsecured creditor and the company being in Administration) and we therefore advised the client to sell the assets from the premises.
We conducted a successful online auction and our client was extremely pleased.
“Many thanks for all of your hard work and effort on this one. It’s not been an easy job to deal with but I think we have got there in the end.”