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ksagroup
Member Since: 17th Nov 2010
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Likes: 4
Thanks: 14
He is managing director of Company Rescue Ltd and KSA Group Ltd - a specialist firm of turnaround practitioners. Keith has been featured in Mike Southon's column in the Financial Times and his book - This is How Yoodoo on entrepreneurs. 

More than 5,000 people have contacted KSA Group since Keith launched this unique website in 2000 and over 500 companies have now been directly assisted by the author over the last 15 years with assignments ranging from large multi national projects to small manufacturing companies, to simple advice over the phone.

For example, Keith ran a £500m sales company in an Administration plus CVA rescue in 2004 and that company (now much smaller) survives with sales over £100m or so. Keith has worked with much smaller concerns from £300k sales upwards and he is currently leading the turnaround of a £120m service company, (CVA).

Keith started his career as a retailer and experienced the savage recession of the 1990's first hand. This was before the banks had a planned approach to dealing with SME's failure. Close struggling businesses first; ask questions later was the response then. Of course this was driven by insolvency practitioners who wanted big fees.

So he learned a lot in a short time and thought "how can we help struggling businesses"?

He joined a specialist turnaround firm in London in 1994 and has helped set up two venture capital companies since, specialising in the distressed / turnaround sector. Since then he has focused on driving the delivery of free information to distressed business people and promoting the use of CVA's, innovative administrations and informal turnarounds.

Keith is a former director of the UK Turnaround Management Association and an associate of the Turnaround Finance Group.

There isn't much he hasn't seen, he is an entrepreneur and vastly experienced in turning around companies. Talk to Keith directly if you want.

 
ksagroup
KSA Group
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My answers

3rd Jul 2018

The desire to put the other creditor in a better position is key. https://www.companyrescue.co.uk/guides-knowledge/guides/preference-insol...

Reply to
Liquidation - Preferential creditor
4th Jun 2018

Generally if the company has no money left then the spongebob plan is often the only option. Yes the description on UKBF doesn't have the right tone. But the advice is generally sound in that the company must stop trading and draw a line under the affair. I agree with other posters that the tax liability should be worked out but it is really academic if their is no money left.

Reply to
Is recommending spongebob unethical
16th Mar 2018

Simply the client must immediately pay the taxes due as it is in fact fraud to not declare the dividend. Fess up time. Mea Culpa etc etc

Reply to
Botched liquidation - options?
8th Jan 2018

It might be worth looking at this page as your client can get some free templates https://www.companyrescue.co.uk/your-options/hmrc-time-to-pay-arrangemen...

Reply to
HMRC time to pay arrangement
16th Nov 2017

Generally the way businesses are valued is a multiple of the future, most likely, net profit AFTER what the director takes out (if it reflects the salary of managing it). The multiple is approximately 4 x for small owner managed businesses. Is actually difficult to value. Might be better to just sell the assets of the business

Reply to
Company Valuation
6th Jun 2017

Yes it depends. According to section 216 of the Insolvency Act 1986 you can carry on using a similar name of a company that you are a director of as long as it meets the following criteria;

(a) has been known by that name for the whole of the period of 12 months ending with the day before the liquidating company went into liquidation, and

(b) has not at any time in those 12 months been dormant within the meaning of section 252(5) if the companies Act.

For more information on section 216 take a look at the following page. http://www.companyrescue.co.uk/creditors-voluntary-liquidation/starting-... However it would always be a good idea to get some legal advice as breaches of section 216 carry heavy penalties

Reply to
Director of liquidated company
6th Jun 2017

You can find more information here on what happens to directors after any liquidation http://www.companyrescue.co.uk/creditors-voluntary-liquidation/worried-d...

Reply to
Liquidation - How will it affect the Director
25th May 2017

It is all down to common sense when it comes to wrongful trading. If it "feels wrong" like as another poster said paying in a large lump sum into your pension pot or borrowing money to buy a house from the company, when you know it is struggling, then it probably is. It is extremely hard to to be found guilty of wrongful trading. The business should carry on as normal as long as it is not making the situation any worse for creditors. There is a useful page on this
http://www.companyrescue.co.uk/directors-guides-insolvency/wrongful-trading

Reply to
Wrongful trading and contingent liabilites
19th May 2017

Funding Circle are lending to businesses like crazy! If the directors are happy with personally guaranteeing the loan then fine but funding circle will go after them big time if they can't pay. But loans are possibly just treating the symptoms and not the cause!

Reply to
Funding circle - too good to be true?
18th May 2017

CVA tax

How CVA debt is treated for tax might be of interest as well.

For more information on company voluntary arrangements can be seen on our CVA page

 

 

 

Reply to
Company Voluntary Arrangement
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