Lawyers Partnerships Plan B
There are three options to deal with severe cashflow problems for partnerships. This page looks at Plan B for partnerships which is a partnership voluntary arrangement (PVA) and linked Individual Voluntary Arrangements (IVA) with creditors.
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Partnership Winding Up
When the partners have decided that the partnership has no viable future or purpose then a decision may be made to cease trading and wind up the partnership. Clearly such a decision should not be taken lightly and we would recommend that all other options are carefully considered and compared to the objectives of the partnership and the individual partners.
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Partnership Refinancing
Where a company has encountered a significant downturn event or is under pressure, the partners must consider whether raising further finance against assets is the solution to their problems. As the market changes and evolves almost daily, we cannot provide an exhaustive list of the financial products available but we give our own view of the various methods below.
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Partnership Trading Out FAQs
Frequently asked questions that business partners ask about trading out as a way to turnaround the business.
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Warning Signs for the distressed partnership
If you recognise some or many of these random signs, your business is probably under pressure, at risk or it could be even be insolvent. Look through these signs, print off this page and tick those that apply.
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Partnership Trade Sale Guide
A Partnership trade sale may seem to be an option if your business is struggling. These are some of the reasons why a quick trade sale, when the partnership is insolvent, doesn't happen very often!
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Partnership Top 10 Tips
Use Company Rescue's top ten tips for partners of insolvent partnerships (or unregistered companies)
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Partnership Insolvency – Establish your objectives
You will need to establish your objectives before deciding what to do if you partnership faces insolvency.
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Partnership Stop Options
If your business is trading as a partnership and it is not viable or insolvent you need to STOP trading. Click one of the links below to find out more
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Partnership Go Options
If the partnership IS VIABLE what are the Go Options?"
Below are the options to allow the business to continue trading.
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