Written ByKeith Steven
Managing Director
Keith is the Managing Director of RMT KSA Insolvency Practitioners which has been established for 25 years. The company has undertaken more CVA led rescues than any other firm. Read our case studies to see how.
KSA Group Seminars!! At KSA Group we are passionate about saving companies and feel that education is the key for business people and their advisors to ensure that good viable businesses are not thrown away. There is much ignorance about the rescue mechanisms available, such as informal turnaround, or company voluntary arrangements, and it is often the case that business people leave it too late to act to solve cashflow problems.
What is more, saving a viable business should be an aim of many company’s advisors. Many of these seminars are aimed at advisors that will learn that they can keep a client and be renumerated for helping to bring about the turnaround.
We have already held seminars in London, Edinburgh, Birmingham, Nottingham and Crawley to spread the word. If you want to attend any of these events and would like to have details of the next one then you should get in touch.
Upcoming Seminar is to be held in Leeds on the 20th of June. CVA’s explained and debated. Please get in touch with robertm@ksagroup.co.uk if you want to attend
Next Seminar is Turnaround from a Local, National, and International Perspective to be held in Reading on June 12th.
Latest Seminar to be held was CVA versus Pre Pack debate on the 8th May 2013 in London. Read the review of the event published in Accountingweb.co.uk
Bromley 18th April 2013 – The Kent Triple A event was well received and it was interesting to hear HSBC’s approach to lending requests from small businesses.
Seminar in Nottingham on the 19th March 2013
This CPD event was a great success with over 30 people in attendance.
Seminar Edinburgh 19th February 2013
The meeting was addressed by a lawyer, a funder and a turnaround professional, who – drawing on their considerable experience in the field of restructuring – explained some of the options available to distressed companies in order to survive in the current tough economic conditions. The event was a sell out
Date: Tues 19 Feb, 6pm
Venue: Gillespie Macandrew LLP, 5 Atholl Crescent, Edinburgh EH3 8EJ
KSA Group along with HSBC, Turnaround Management Association (UK), and Advantage Business Partnerships hosted and sponsored free evening Seminars in Birmingham and West Sussex
See details and a review of the Birmingham Event
See details and a review of the West Sussex Event
KSA Group are Gold Sponsors of the Turnaround Management Association UK and we will be sponsoring events throughout 2012/2013
Attendees at these events will get our our USB toolkits with hundreds of pages on how to save companies.
KSA Group are keen to explain the benefits of the CVA mechanism to as wide a range of people as possible. As such, we were presenting at the Turnaround Management Association in Birmingham which was attended by 43 people. You can see the video of Keith Steven presenting below.
We also aim to bring the CVA mechanism to the attention of professionals in Scotland. We held a seminar in Edinburgh on the subject which was well attended. In 2011 there were a total of 14 CVAs done in Scotland compared to 765 in England and Wales….Recent statistics out has shown that only 1 CVA was approved in the first quarter of 2012.There are some legal issues as to why it is harder to get a CVA approved in Scotland but the differences do not account for the huge disparity.
Jetline Travel in Administration After It Stopped Trading
In March, Jetline Cruise's parent firm, Jetline Travel, which was established in 2000, stopped trading as an ATOL-protected travel agency. According to reports it has now gone into administration.The company operated under a number of brand names at the time, including Save on Sun, Bargain Late Holidays, Best Priced Holidays, Cruise and More, and Elegant Getaways.Jetline Travel reported an operational profit of £655,000 and a turnover of £28.1 million in 2023. 5,000 customers—the majority of whom had reservations for cruise vacations—were impacted when the company stopped operating as an ATOL operator in March.Due to a "breach of contract" with Jetline, a number of well-known cruise reservations with companies like Princess, Cunard, and Holland America have since been cancelled. The Civil Aviation Authority (CAA) released advice for impacted passengers in early March: "If you are currently abroad and have a scheduled flight e-ticket, the flight is still valid for your return trip." Kindly check in with the airline as usual. We are obtaining data from the business and will shortly offer more instructions on how to make a claim for reservations that are ATOL-protected"Bookings that solely include lodging, non-flight packages, or cruises without flights are not covered by the ATOL scheme, the CAA confirmed."Jetline Travel Ltd. acted as an agent for other ATOL holders," they continued. Jetline's ATOL does not safeguard these reservations. To find out who is providing protection, look at the 'Who is protecting your trip?' section on your ATOL Certificate. Get in touch with the ATOL holder directly if they are still operating.Jetline is represented in the travel industry by the Advantage Travel Partnership, whose representative apologised for the incident. They expressed their sadness at Jetline Travel's closure to The Independent. "Since 2015, they have been a valued member, and we are thinking about the impacted consumers and employees."Anyone who has a cruise-only trip booked, or one with just accommodation that doesn't have flights included, are not protected under ATOL.
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