01937 420500Insolvency Case Study: Exceeding Expectations
Our aim is to produce results as cost-effectively as possible. However, there are occasions when a substantial amount of effort must be invested in order to obtain a result – something we do not shy away from when the need arises.
Service Provided: Post-Construction – Insolvency support
The Client: Cooper & Hall’s client was the administrator of a building and joinery company. The company had enjoyed a high level of repeat business from clients, but had not protected itself contractually and commercially.
Our Role: On examining the company records Cooper & Hall discovered over 40 projects had been carried out for one client, but final account settlements had not been concluded for more than half.
The director assessed the likely realisable debts and work in progress at £100,000; however, Cooper & Hall’s assessment indicated a far greater sum was due. Initial correspondence with the debtor was rejected out of hand. Fortunately Cooper & Hall had full access to the company’s books, emails and project records. From all this information fully detailed and substantiated final accounts were prepared for a sample number of the projects.
The Outcome: Following further correspondence and negotiation with the debtor by Cooper & Hall, the administrator accepted a settlement at almost twice the director’s estimated value.
