JPS Chartered Surveyors act on behalf of Insolvency Practitioners in relation to Corporate Insolvency matters. We have considerable experience and expertise to understand our clients’ requirements and our duty to act in the best interest of all creditors. We have developed our resources and knowledge management capabilities to provide a truly unique offering to instructing clients.
We act in connection with the following corporate insolvency paths: Liquidation, Administration, Members Voluntary Arrangement, Company Voluntary Arrangement.
The services we provide to Insolvency Practitioners vary from case to case to reflect the circumstances and may include:
- Preparation of Valuation Reports for Machinery and Business Assets and property interests, in compliance with RICS Valuation – Professional Standards (“the Red Book”);
- Determination, identification and management of encumbered assets and assets subject to third party ownership;
- Asset management – to ensure safe and efficient control and security of subject assets;
- Management of retention of title claims including conducting inspections, assessment of terms of sale and provision of recommendations;
- Sale of assets on site or from WORTH House by traditional auction, tender, private treaty, online-auction, or online fixed-price sales on marketplaces through ASSETtrail;
- Relocation and storage of assets, where required, to our 11,000 sq. ft. fixed storage facility located at WORTH House, Whitefield, Manchester;
- Negotiation of sales of businesses or assets and provision of recommendation advice in respect to offers received with alternative outcome statements, in compliance with SIP 16 where relevant;
- Storage of company documentation and confidential destruction, with the option to forward bill for the duration of the storage requirement;
- Funds held on behalf of clients are held in RICS Regulated client accounts and assets are sold on a VAT self-billing arrangement.
We often act prior to formal appointment of an Insolvency practitioner and understand our role can include acting as part of the team with our clients, therefore we seek to enhance the integrity of their offering to their prospective client.
JPS Director Mark Isaacs has accepted responsibility of the Insolvency content of the Machinery and Business Asset Module of the Degree in Surveying offered by the College of Estate Management, which includes the setting of exam papers to students.