The Practice is currently involved with many Insolvency Practitioners and prepares Contract Reports, based on our assessment of the records, which tends to be useful when the Insolvency Practitioner is preparing a Statement of Affairs and is of course of great assistance when it comes to estimating realisations in relation to the funds at risk in terms of debtors, retentions, works in progress etc and we are then retained in relation to the corporate debt recovery aspect from which the creditors derive a benefit.

We are always conscious of the fact, however, that many of the funds at risk, with which we are advised of by the Directors and Owners of the firm, are overstated and if it appears that there is little prospect of successful settlement, it is imperative that this view is reached quickly and once again our experience is generally beneficial in this area.

We feel that our services would be of use also to Banks, with particular regard to any building firms they are concerned about, if their borrowing position has changed significantly over a short period and on many occasions this results from a change of personnel within the firm and in certain instances all that is required is a tightening up of the debt recovery section of the business, as our experience has shown that while many construction firms are investing more in marketing, they tend to forget that it is equally as important to chase up outstanding debts, with particular regard to retentions and there is always slippage in this area which requires adjustment.

With regard to our Construction Insolvency Management services on behalf of Insolvency Practitioners, we have a small team of specialists who assess the funds at risk in relation to debtors, work in progress and retentions, together with any Loss and Expense Claims for delay and disruption and assist in the management of completing various projects on behalf of the Insolvency Practitioner and our team comprise of Management Consultants, Chartered Building Surveyor, Chartered Quantity Surveyors and Contract Managers who can operate on a daily or weekly basis and whilst these services comes under the heading of Insolvency Surveying, this is a specialist area which relies on the experience of our operatives in relation to protecting the funds at risk and maximising the overall recovery.