Clients are expert at running their businesses but not normally trained in negotiating extended payment agreements with the Crown, with Landlords or with substantial Trade creditors, or trained in handling threatened distraint by Landlords or by High Court Bailiffs. Yet distraint can end a company's trading overnight, by eviction, confiscation of stock or impounding of equipment or vehicles.

To Defend against this, Interco takes no chances. Whether the Director is seeking to maintain use of assets and facilities and “trade through” his difficulties, or to cease company trading but transfer the business to a new company, the same timely action is essential.

Interco's action will normally include a valid sale of all unencumbered assets and stock to a friendly Party on manageable terms, for continued onwards use under licence and formal notification of the resulting zero assets position to any “hostiles”.

Apart from preventing walking possession and some other forms of distraint, this can aid “time to pay negotiations” and avert the issue of Winding Up Petitions !.

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