This is carried out under The Tax Consultancy Arm of DTAS
Our receivership practice revolves around:
- a critical assessment of the operations of the debtor with a view to identifying management problems and suggest solutions;
- discuss our proposals with the lenders and obtain their approval;
- management of business as a going concern to ensure settlement of debts and revival of business operations without resorting to cessation of the business and sale of assets;
- realization of assets on a gradual basis or en-bloc as appropriate on eventual cessation in compliance with all statutory and legal requirements;
- take immediate steps to secure the assets of the company to forestall removal or any other steps that may be prejudicial to the interests of the lender.
It is our policy to adopt the refining approach to insolvency. This is borne out of our conviction that not all companies in receivership should liquidate. Every effort must be made to save ailing companies by highlighting management problems and take corrective actions for the benefit of the lenders and the owners of the businesses.
