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insolvency

case management

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Insolvency: case acceptance, planning and management

Insolvency proceedings are often complex, fluid, fast-moving, subject to public scrutiny and carried out under tight statutory deadlines.

Evaluate, plan and manage insolvency cases
RISC Vision supports Insolvency Practitioners, Lawyers and Investigative Accountants in assessing whether or not to accept an appointment or case, to plan and undertake assignments, and to monitor and manage client and related companies throughout the process.
RISC Vision enables connections, patterns and emerging trends within and between groups of companies to be quickly identified for evaluation - work which would otherwise take hours of analysis:
  • Rapidly assess the context, risk landscape and corporate event history within which an insolvent company operated in the period prior to commencement
  • Automatically generate and visualise complex group structures
  • Reduce risk in the ongoing management of Administration / CVA / CA 06 Scheme of Arrangement (SoA) appointments through automated, real-time monitoring of critical upstream supplier / outsourcing, and downstream customer / distribution channel counterparties
  • Efficiently manage cases throughout the lifecycle of an insolvency appointment

Statement of Affairs (SofA)

Rapidly generate information to enable the drafting, review or challenge of the SofA.

Inform legal entity scope of SofA for appropriate inclusion or exclusion of assets or liabilities of subsidiary, associated or JV companies
Assess the Realisable Value of book debts through the evaluation of the financial health and operational resilience of debtor companies
Identify common ownership and control relationships between the insolvent company, supplier and customer entities

Antecedent Transactions (AT)

Identify and navigate relationships and corporate event timelines to uncover and challenge antecedent transactions and recover creditor funds.

Identify and investigate relationships to recover creditor funds
  • Rapidly navigate relationships between companies and/or between Directors and companies
  • Investigate and establish connected / associated status between parties
  • Build a case to challenge transactions and recover funds for the benefit of creditors
Examine detailed corporate events anterior to insolvency
Quickly view the company's entire corporate event timeline and risk alert history as context for investigating:
  • s212 Misfeasance
  • s213 Fraudulent trading
  • s214 Wrongful trading
  • s216 Re-use of company name
  • s238 Transaction at an undervalue
  • s239 Preference
  • s244 Extortionate credit transaction
  • s245 Avoidance of floating charges
  • s423 Transactions defrauding creditors

In evaluation of the above, determine the dates of key corporate events (e.g. Director resignations / appointments, corporate actions, changes of control, etc.) against the relevant time (anterior) period, as appropriate for the provisions of IA86 (6 months / 24 months / 3 years).
Build a defence for an asset purchaser
RISC Vision can surface information to build a defence for a purchaser in a transaction where the party has dealt with an insolvent company for value, and in good faith.

Investigate and report on the conduct of Directors (SIP 2)

Get the bigger picture with a rich understanding of other directorships in which Directors are engaged and how they might relate to the insolvent company.

Map both active and inactive directorships of current Directors
RISC Vision supports analysis to inform completion of the 'D' return on Conduct of Directors, to identify Directors' potential:
  • Breach of duty or misfeasance (s212)
  • Wrongful trading (s214) - when did the directors know / ought to have known that there was no reasonable prospect of the company avoiding insolvency (determination of the 'relevant time')
  • Fraudulent trading (s213)
  • Directors' misconduct; acts that prejudice creditors (s7 CDDA 86)
  • Breach of Re-use of company (prohibited) name (s216-217)

Test hypotheses and substantiate conclusions with interactive ecosystem models.‍

Administrator, CVA and SoA Proposals

RISC Vision intelligence supports the formulation of the Administrators' proposals, and the ongoing risk management of the administration.

Estimate recovery prospects under Administrator Proposal scenarios
Thoroughly examine detailed risk profiles of key suppliers and customers:
  • Provides point-in-time and automated ongoing monitoring of the financial health and operational resilience of key supplier and customer counterparties which have a material bearing on the feasibility of the proposals
  • Trading-on: provides real-time risk intelligence on critical counterparties (and competitors and wider sector players if required) to inform the continued business case for trading-on in support of the Administrator's six-monthly progress reports
  • Monitor changes within the networks of connected companies and Directors that might threaten, prejudice or frustrate the committed Statutory Purpose of the Administration

Simply and quickly link associated companies to the distressed company and let RISC Vision's alerts and corporate event histories inform evaluation of the likelihood of survival post restructuring.

Investigative and Forensic Accountants

Immediately view group ownership from subsidiaries to parents and ultimate beneficial owners including controlling interest and natures of control.

Gain risk and corporate event transparency at each level of the company's group structure
Identify common ownership and / or control relationships between the insolvent company and supplier and customer entities

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"There are many use cases for RISC Vision in-house and in collaboration with our clients."

Audit Partner

"RISC Vision provides a holistic and very different perspective on risk"

Head of Credit Risk at a global investment manager

"RISC Vision automatically delivers insights which our teams have worked hard to find"

Audit Partner

"Innovative and powerful"

Private equity fund manager

"We need to monitor beyond our supplier’s operations and RISC Vision gives us this ability."

Audit Partner

" There are so many use cases for RISC Vision in-house and in collaboration with our clients. "

"RISC Vision automatically delivers insights which our teams have worked hard to find"

" We need to monitor beyond our supplier’s operations and RISC Vision gives us a rich understanding of our suppliers’ operating environment."

TRY RISC VISION FOR FREE

Start protecting your company today.
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