Helping creditors to avoid a total loss in the manufacturing sector (disguised)

Gore and Company was appointed liquidator by creditors of this manufacturing group (disguised) based in London in which there had been significant wrong doing, failure to disclose assets, failure to disclose books and records and attempts to mislead the creditors.

The application of forensic accounting expertise to the business’ records, analysis of income, payments and receipts and inquiries of suppliers, employees and agents led to the identification of assets with a value of in excess of £2m and additional, undisclosed liabilities of almost £1m.

Faced with a lack of co-operation from the directors of the liquidated business Gore and Company worked closely with legal professionals to secure access to books and records and to identify illegitimate payments to directors, misallocated funds and large capital transfers from the business for unspecified purposes. Taxation anomalies were also discovered which increased the number of creditors and increased the funding available for further investigations.

Please note that the above is provided for illustration purposes only and comprises a short view of extremely complex insolvency and other legislation. This is a complicated area and specific advice must be sought before undertaking any course of action or before refraining from any course of action. Gore and Company takes no responsibility for any loss incurred to or by any person who either acts or refrains from acting on the basis of the above or of any other item published on this website. The above note may not be reproduced without the prior written consent of Gore and Company.

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