Interco's client is normally a company's Director. We look right away at all aspects of his involvement in the business, advising him on such matters as putting a charge on company assets to secure repayment of monies he injects in cash, or contributes by foregoing salary payments.

Sometimes there are means less ponderous than“debentures”, such as selling the Director the book debts in exchange for monies injected. This can be specially valuable if the company stops trading with a personally guaranteed overdraft, as the Director may be able to clear the liability via his own charge on book debts.

When a Company is under threat, its Director may come under pressure to break insolvency rules and pay one creditor in preference to others. This can lead to an action by DTI for wrongful behaviour disqualification, or by the Liquidator to recover from the Director personally the monies paid in preference.

These are not areas in which clients will themselves be expert. Interco's role is therefore to think around all recent actions on their behalf, to ensure that all possible matters are "best sorted" before the Company enters Liquidation.

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