Construction industry - case study

Project Recovery

Sector – Insulation

Situation

The Company supplied and installed Insulation nationwide.

The Company divested its business and sought to be placed into solvent liquidation.

A key creditor was unhappy with the process and engaged with Mazars to consider the options.

Approach

We were appointed as Liquidators of the Company to investigate its affairs, the process undertaken and consider the significant unpaid creditor position.

We reviewed the Company’s books and records and undertook a forensic exercise to understand the basis of the decisions taken and the losses suffered by the Company.

Following the conclusion of our assessment we looked to commence legal action to compensate for the losses suffered by the creditors.

Impact

A successful settlement of over £8m was achieved and will allow a likely 30p in £1 distribution to unsecured creditors.

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Rebecca Dacre
Rebecca Dacre Partner - Restructuring Services - Milton Keynes

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