We offer pre-liquidation advice to companies and their directors helping them to assess the financial situation of their business as well as options available when considering whether to continue trading or winding-up and the associated risks.
Schemes of Arrangement
As is the case in the UK, the Isle of Man Companies Acts allow companies to propose a scheme of arrangement to members and creditors as a way of resolving financial difficulty.
Acting on behalf of stakeholders looking to preserve assets and value within a company pending the formal appointment of a Liquidator.
Court Appointed Liquidator
Gordon is recognised by the Isle of Man Courts and listed on the Court Appointment Register of competent liquidators in the Isle of Man.
Members' Voluntary Liquidator
Gordon Wilson and Claire Watterson act as liquidators in members’ voluntary liquidations.
Creditors Voluntary Liquidation
The primary aim in a Creditors’ Voluntary Liquidation is to return the highest value possible to the creditors of the company by collecting in, realising and distributing the remaining assets held by the company.
Acting on behalf of charge holders, we are able to act as receiver appointed under Isle of Man registered debentures to take control of and realise charged assets.
The Isle of Man Companies Acts, 1931 and 2006, both give stakeholders of Isle of Man companies a right to apply for the appointment of an inspector.
Mental Health Receiverships
Gordon can act as a Mental Health Receiver should a person, by reason of mental disorder or incapacity, be incapable of managing their own financial affairs.