BBM Solicitors – offers advice on dealing with financial distress

BBM is aware that the coming months will bring very difficult times for businesses across Scotland.

As an specialist insolvency and restructuring law firm, this is our area of expertise.   We want to help local business owners where we can, and ensure they take the best advice, rather than rely on information found online, which can often be misleading. As a result, we are currently offering free meetings with one of our solicitors to the owners and directors of distressed businesses to discuss their current financial position and options going forward.  

The decisions taken by directors at the point where a business enters financial distress can have significant relevance in the event of an insolvency or restructure and it is always useful to get some input from an experienced insolvency solicitor at that early stage (not least to avoid decisions that could have significant personal consequences to a director further down the line, but also because the right decisions taken early can have a positive outcome in preserving value in a business). Our Managing Partner, Eric Baijal, is Wick based, and he is recognised as a leading individual in Restructuring and Insolvency Law by Chambers and the Legal 500 indexes for cross border and domestic work in Scotland.   He is the only Law Society accredited Specialist in Insolvency Law who is based in the Highlands. Eric and his experienced team are on hand to have an initial no obligation, no fee discussion with you about the needs of your business.  Eric said:

“While our team are often working on large scale cross-border restructures, we are of course Wick and Edinburgh based and want to try to use our skills to help the business community where we are based, across the Highlands and Islands, and elsewhere in Scotland.”

For individuals in financial distress these are likely also to be challenging times. Our Edinburgh based Director, Sheana Campbell, is an experienced solicitor advocate who specialises in personal insolvency matters and she and her team can assist in this area. There are a number of debt management schemes (advertised both on television and online) where best advice and financial outcome for the debtor may not always be provided. BBM work with a network of very experienced high quality, ethical and regulated Insolvency Practitioners.   We would be happy to have a free initial discussion with you to discuss your position and direct you to the best place to assist you in resolving your debt problems.

Please call our Wick Office on 01955 604188 or our Edinburgh Office on 0131 526 3280 or email info [AT] bbmsolciitors [DOT] co [DOT] uk to discuss.