Purpose: Administration
Task: Asset Tracing and Recovery, Valuation and Realisation
Sector: Utilities Infrastructure Construction
Location: Multiple throughout UK
Appointed by the Administrators to initially assist in gaining control of the assets of the company which comprised both large and small contractors plant, we sought to quickly assimilate the asset positions and recover to the two main yard locations in London and Manchester. With significant exposure to risk, there were many subcontractors directly affected by the company’s insolvency, this task need rapid attention. Utilising the company’s own haulage fleet and retaining staff with the necessary skills and competencies and by deploying our professional team across the country we were able to rapidly bring the assets under control. Subsequently we dealt with third party financial interests and provided appraisal opinion.
We assisted with the stock in trade of large capacity electricity cables and associated materials, by identifying impress and free issue inventory, realising the scrap cable and selling on the owned stocks leading to substantial realisations. Utilising online auction and private treaty solutions we were able to realise the assets in a timely manner and to great success.
“Yellow Iron”, contractor’s plant and vehicle fleet recovery and sales are marketplaces we are well versed in. Examples of similar cases we have provided advice for include.
- Steve Hill Limited
- Concentral Plant Limited
- Uxbridge Skip Hire Limited
- Concrete Cutters (Sarum) Limited