If you are a director of a credit union that is struggling, you will need support from a specialist who is experienced in these matters, someone with a cool head.
We will carry out a free, no obligation, review to assess whether it might be possible to turn things around – we are committed to seeing the credit union movement prosper, so a positive solution is the first thing we look for.
If a turnaround should be possible, we will introduce you to a seasoned credit union turnaround specialist and simply withdraw.
But if things should have gone too far, if you lack the resources or time to turn things around, or if the planned turnaround does not succeed, and formal insolvency unavoidable, we will act as the administrator / liquidator of your credit union. Before doing so we will take steps to save what we can from the credit union – much can be done to save the fruits of your hard work – and unlike other insolveny practitioners, we will fix our, and our lawyers’, fees for doing so, so we will not ask you for a blank cheque!
We have gained some significant experience acting as administrator / liquidator of several credit unions. Dealing with the insolvency of a credit union requires significant tact and diplomacy, and the use of sophisticated systems if the work is to be conducted diligently, quickly and with the least possible impact on all parties.
References are available on request.
Call Paul now on 01902 672323 to arrange a free initial, onsite assessment.