At this mornings WLCM (9.10.09) Peter Wilson divulged some of the intricacies and even less well know facts of going into receivership and bankruptcy. I am not going to pretend that by listening in I have become any kind of authority on the matter but suffice to say there is a correct and methodical way for a business to go into receivership.
You may have thought it unlikely for any business to want to go into receivership but in fact it can (for big business) be used as a tool for negotiation. For small business I think it is sufficient to know there is a proper way to do it. So if you are considering receivership or bankruptcy seek professional advice, as it will save you a lot of money.
Quote of note “its not what something costs you should be asking rather, What is it worth.”
Good Luck,
Bruce.
Before you build it . . . Plan-It
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