When a company’s financial position has deteriorated to the point where a turnaround or formal proposal is no longer feasible, an assignment in Bankruptcy may be appropriate. While this option should be your last resort, such a proceeding serves to halt further losses to creditors and shareholders.
Read more about - Bankruptcy
When a business venture turns sour between family, friends or partners running a business, a mediator is needed to facilitate the process going forward. Our Corporate Recovery group will act as an independent Court appointed Monitor / Receiver / Liquidator of the entity to keep the process on track until the dissolution is complete.
Read more about - Mediating
Also known as a “Look-See”review, viability assessments are conducted as a preliminary step before developing a recovery plan. A comprehensive review such as this is helpful to both the company and its secured lender(s) in arriving at a mutual arrangement.
Read more about - Viability Assessment
Bridging the gap between business owners, financial institutions and other creditors,
we develop sound proposals that are fair to the creditors and can reasonably be
fulfilled by the company. MNP can lead the restructuring proceedings as Trustee under
a BIA proposal or as Monitor under a CCAA proceeding.
Read more about - Corporate Restructuring – Formal Proposal to Creditors
The options and chances of a successful turnaround increases significantly when MNP is contacted in the early stages of an organization’s financial difficulty or under-performance., Often early intervention can prevent the need for a formal legislative proceeding. Informal turnarounds are especially beneficial and are preferred by most organizations because the process is private, so financial details are not broadcast to the public.
Corporate Restructuring – Informal Turnarounds